Russian oil discounts double, setting a new record for 2025, but there's concern that China and India may not buy much!
Reuters recently quoted several industry insiders as saying that due to U.S. sanctions on two of Russia's largest oil companies, the price of Russian oil in Asia has seen the largest discount in nearly a year.
They revealed that the discount for Urals crude scheduled for delivery in December has increased to $4 per barrel, while the previous discount offered to Asian buyers such as China and India was $2 per barrel.
Since the outbreak of the Ukraine-Russia conflict, due to the significant reduction in oil imports from Russia by the West, Russia has had to provide long-term price discounts to buyers like China and India. The largest discount occurred in 2022, at $8 per barrel.
However, it should be noted that the $8 per barrel discount corresponded to an average annual price of over $76 per barrel for Urals crude; now, the $4 discount corresponds to an international reference price of $58 per barrel.
Original: www.toutiao.com/article/1848119302100103/
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