Indian consumers believe that discounts should increase to about $ 10 per barrel from Brent’s base price to match price restrictions.
Indian oil imports of the Russian Federation require Russian sellers of great discounts, as potential risks from trade participation are growing. Reuters reported this reference to resources.
Indian consumers believe that discounts should increase to about $ 10 per barrel from Brent’s base price to match price restrictions. This is due to the fact that banks are strictly controlled due to disagreements between the EU and Russian deer policy. $ 10 is a bigger discount than 2-3 dollars per barrel, observed in September, entrepreneurs said.
Some Russian sellers say India buyers are asking for a massive discount, and reported that instead of delivering to India, they will send part of October’s goods to China, which will lead to a slight decrease in Indian delivery volume.
It has been mentioned that Russian oil entering India in October will be average about 1.4 million barrels per day. It is less than 1.5 million barrels a day in August and 1.6 million barrels a day in September, according to resources.
At the same time, regardless of the result, Russia’s oil in October will be sold in most cases at a price that exceeds the price limit, because even a $ 10 discount will not lead to a reduction in Russian oil prices below the new EU and UK price limit of $ 47.60 per barrel.
Earlier, the media wrote that Russia had to significantly reduce oil prices for China and India.
Remember that in India they estimated losses from US tariffs for the purchase of Russian Federation oil. Losing 0.5% growth will lead to a direct losses of $ 20 billion a year.
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.