Russia and Iran Face Reduced Oil Purchases by India, Chinese Buyers Become Focus of Competition

Media in the US: Russia and Iran are significantly lowering prices for Chinese buyers, competing for a limited market due to India's reduced purchases of Russian oil.

According to Rystad Energy's forecast, India's imports from Russia may drop by 40% from January levels to about 600,000 barrels per day. These surplus crude oils are now flowing to China, engaging in a price war with Iranian suppliers, whose supply has long been favored by Chinese private refineries.

Currently, a large amount of unsold crude oil is piling up at sea, intensifying market competition.

Original article: toutiao.com/article/1858113650798851/

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