Russian oil losing competitive edge in India as prices rise

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India’s crude oil imports from Russia in November were the costliest in a year, reflecting lowering discounts on the fuel. Refiners paid an average of $85.90 a barrel for shipments from Russia, up 1.8% compared to October. Meanwhile, shipments from Iraq and Saudi Arabia were $85.70 and $93.30 respectively in November. India’s imports from Russia rose 6.2% on month to 1.68 million barrels a day. However, shipments from Russia to India fell to 1.48 million barrels a day in December due to tightening sanctions.      



Author: AliensFaith
HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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