India expects big oil discounts from Russia, Mint reports.
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Against the backdrop of a global decline in oil demand and taking into account the diversification of supplies, India expects Russia to provide greater discounts on its energy resources than it currently does.
Experts say discounts now range from $4 to $6. per barrel, and 10-12 dollars are expected.
In November 2023, Russia supplied India with 1.3 million barrels per day, the lowest level for that year.
India and China remain the main buyers of Russian oil after the start of the full-scale invasion of Ukraine by the Russian army.
Earlier, Nation World News wrote that India will increase purchases of Russian oil.
India intends to increase purchases of Russian oil as long as the price remains below $60. per barrel, which avoids Western sanctions and other restrictions.
Russian oil supplies began to decline in November, and the decline has now lasted for seven weeks in a row.
An Indian official said on condition of anonymity that attempts by Western sanctions against Russian oil tankers would not prevent the country from continuing purchases because there are enough tankers on the market.
Source: Racurs
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