Russian Crude Oil News

The party for Russian crude importers is probably getting over, as in the last few months, steep discounts which India has enjoyed so far have come crashing down. Additionally, shipping rates shipping entities are charging India continue to remain higher than normal. But if Indian Russian crude importers hadn’t made this one mistake India could still be enjoying heavy discounts. What mistake did Indian importers make? Watch the full video to find out.

Discover the implications of Russia's shift in crude oil trade towards India and China after its invasion of Ukraine. While recent events in Russia have raised questions about the reliability of its oil exports, the global oil market remains stable. India's reliance on Russian oil has been economically advantageous, but the potential for regime change in Moscow could disrupt bilateral trade ties. This video explores the strategic considerations and potential consequences of maintaining or re-evaluating India's oil strategy with Russia.

As Russia scrambled for buyers after its invasion of Ukraine sparked Western sanctions, India stepped up as a new major buyer, securing discounts of as much as $15-20 a barrel. This has since fallen below $10 and has touched even $5. The steep discounts India enjoyed on Russian crude oil through most of FY23 have plunged, two government officials aware of the development said, as China boosted purchases and oil producers cut production.

Royal Dutch Shell, the world's largest oil trader, said the time has come to debate using Russian crude oil to help determine the global Brent benchmark