Rising shipping costs and Gulf crude discounts lead India to reduce Russian oil purchases
智通财经2026/10/26 12:06Show original
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
- Ocean freight rates continue to rise, narrowing the arbitrage opportunities for long-distance crude oil procurement. Indian refineries are turning to Persian Gulf sources, reducing their proportion of Russian crude purchases.
- Trading data shows that some Iraqi crude oil is priced at a discount of more than $23 per barrel to the Dubai benchmark, which, when converted to the Indian landed price, offers a clear advantage over prompt Brent. Russian crude is quoted at a slight premium, making its procurement less cost-effective.
- The CFO of India’s state-owned Bharat Petroleum stated that, due to declining commercial returns, the volume of Russian crude arriving in November will be significantly reduced.
- In addition to Iraq, Saudi Aramco has recently released spot crude orders with a maximum discount of about $9 per barrel. Abu Dhabi National Oil Company exported about 19 million barrels of discounted crude at the beginning of the month, for December shipment.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Stock Alert: Neutron Holdings Plunges on October 26 as Analysts Lower Price Target
Bitget异动解读•2026/10/26 18:45
Crude oil options signal rising Middle East supply risks
智通财经•2026/10/26 18:36
Geopolitical tensions are making the logic behind gold price increases more complex.
智通财经•2026/10/26 18:36
