Russia is trying to find new markets for its oil after the imposition of sanctions by Western countries.
In the spot market, the discount for Russian oil exports Urals continues to grow compared to Brent. Last week, it exceeded $ 40, TASS reports, citing a study by the Petromarket group.
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“Its average weekly value (discount – ed.) Increased by $ 0.3 to $ 40.3,” the study said.
According to analysts, on July 15, the Urals price discount against Brent Dated rose by $ 0.4 per barrel to $ 40.2.
As you know, today the oil of the Russian Urals is traded on foreign markets with significant discounts. This is done to find new markets after the imposition of sanctions by Western countries. Russia is trying to sell its oil to Asian markets and, first of all, to China and India. But these large customers are already losing interest in oil from the Russian Federation.
It will be recalled that due to the sanctions, Russia’s oil losses will reach 3 million barrels per day. This forecast was voiced by the International Energy Agency. At the same time, Russia exports approximately 8 million barrels per day.
It was also reported that following the June results, the revenue of oil and gas corporations of the Russian Federation dropped another 154 billion rubles, or 18%. And compared to the April record – more than double.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.