In April, more than 60 delivery of Russian raw oil was expected in a discount, which is about 52 million barrels.
Indian oil refineries plan to reduce the number of tenders for the purchase of Russian raw oil in the market area in the coming months. This is due to the restoration of supplies from the main supplier, Russia, to an almost normal level. Bloomberg reported this on Monday, March 24.
Thus, in April, more than 60 supplies of Russian raw oil were expected in a discount, with about 52 million barrels. This includes both state and private delivery delivery, which indicates the restoration of supplies after a period of reducing volumes due to western penalties.
Earlier, after the introduction of tighter penalties in the US in January, Indian oil references, such as the Indian Oil Corp and Bharat Petroleum Corp, were forced to turn to the spawning market to replace shortened belongings from Russia. However, now the need for additional purchases in the area market has been reduced.
Generally, Russia’s exporting volumes in India this year have been reduced to 1.6 million barrels per day, compared to an average of 1.8 million barrels in 2024. It indicates market adaptation to new conditions and the next bypass of penalties.
Earlier it was learned that Russia began to use cryptocurrencies in oil trade along with China and India to miss the western penalties.
Russia bypasses Biden’s penalties and increases oil supply to Asia – Media
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Source: korrespondent
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