Russian oil trade: Discounts soften impact of losing sanctioned barrels
US sanctions on Rosneft and Lukoil are impacting Indian refiners less than anticipated, as wider discounts on Russian crude offset expected volume drops. Refiners are sourcing from non-sanctioned suppliers, with increased discounts nearly compensating for reduced Russian cargo intake. This shift, coupled with a well-supplied global market, keeps procurement costs stable.
US sanctions on Rosneft and Lukoil are impacting Indian refiners less than anticipated, as wider discounts on Russian crude offset expected volume drops. Refiners are sourcing from non-sanctioned suppliers, with increased discounts nearly compensating for reduced Russian cargo intake. This shift, coupled with a well-supplied global market, keeps procurement costs stable.
