Discounts on Russian oil purchased by Indian refiners are likely to increase going ahead with a fall in global demand and India looking at further diversifying its supplies.
People in the know of the developments said that currently the discounts are in the range of $4-6 per barrel and may reach $10-12 per barrel soon.
"A dip in global demand has forced exporting countries to sweeten their offers and with a fall in oil prices Russia also would try to cater more to India, which has been a major procurer of its supplies in the past two years," said an industry stakeholder requesting anonymity.
Further, a recent dip in import from Russia is expected to boost discounts on supplies from the country. Data from Platts (part of S&P Global Commodity Insights) showed that Russian crude exports to India hit the lowest level of 2023 in November at 1.3 million barrels.
Bu hikaye Mint Mumbai dergisinin December 18, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin December 18, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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