ST1976
FULL MEMBER
- Joined
- Jul 25, 2006
- Messages
- 880
- Reaction score
- 0
- Country
- Location
Most of the world dont buy Russian oil, they replace it with Arabs oil.
Arabs are now cashing as oil price is pretty high at 90 USD per barrel. The supply is tight, this is why oil price goes up. Israel - Hamas war is also supporting high oil price.
Russian oil discount is not large, but for Indian refinery industry that discount is still good enough as India playing with big volume to supply huge Indian oil demand and also to reexport it after being refined in India.
For crude market, Saudi and Irak are quite dominating, most of crude oil that Indonesian Pertamina import comes from Saudi Arabia
look, 'Iraq' is our man . ('our' means for India-Russia combined)
with that Iran has also been always our man
Last edited: