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Russian Crude to India Soars to New High January

OIL

Crude flows from Russia to India are set to top 1.5 million barrels a day this month, up from virtually zero less than a year ago according to Bloomberg vessel tracking and setting a new record monthly pace.

  • The steep discounts needed to attract Indian buyers led to Russia’s flagship Urals export grade trading below $47 a barrel in the month to mid-January - a discount of $35 to Brent over the same period.

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Crude flows from Russia to India are set to top 1.5 million barrels a day this month, up from virtually zero less than a year ago according to Bloomberg vessel tracking and setting a new record monthly pace.

  • The steep discounts needed to attract Indian buyers led to Russia’s flagship Urals export grade trading below $47 a barrel in the month to mid-January - a discount of $35 to Brent over the same period.