APPEC: India's active Russian crude purchases benefiting other Asian refiners

India's intake of Russian crude oil is seen as mutually beneficial for both countries, South Korea and Japan manage to secure enough Saudi crude despite output cuts, and executives state that the G7 price cap is not intended to halt the flow of Russian oil.

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9/6/2023

G7 shelves regular Russian oil cap reviews as prices soar, sources say

The G7 and its allies have halted regular reviews of the Russian oil price cap scheme, allowing Russian producers to sell oil above the limit due to a rally in global crude prices and the use of non-Western ships and insurance services.

9/6/2023

Oil prices are more important to Saudi Arabia and Russia than market share: Kpler

The cooperation between Saudi Arabia and Russia on oil production is unprecedented, dividing the world into "producers against consumers," according to Viktor Katona, Lead Crude Analyst at Kpler.

9/13/2023

Russia-Ukraine War Reshapes Global Trade as US Pivots Away From China Toward Mexico

The trade sanctions imposed on Russia have benefited India and China, with Russia becoming the biggest supplier of crude oil to India and the bilateral trade between Russia and China potentially surpassing $200 billion this year, resulting in the US reshaping its global trade strategies and Mexico overtaking China as America's biggest trading partner.

9/16/2023

U.S. Engages Saudi Arabia to Ensure Oil Supply Stability Amid OPEC+ Output Cuts

The United States is in regular contact with Saudi Arabia to ensure a stable and affordable supply of energy to global markets, according to National Security Advisor Jake Sullivan. This comes as cuts in oil output by Saudi Arabia and Russia are expected to result in a significant market deficit.

9/19/2023

Saudi Minister Defends Oil Cuts as Prices Rise, But Tensions With IEA Remain Over Supply Outlook

Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, stated that the decision to extend crude oil supply cuts with Russia is not about raising prices, but rather about making the right decision at the appropriate time based on data and clarity, as oil prices near $100 per barrel and analysts predict further increases.

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Posted 9/4/2023, 10:15:00 AM

APPEC: India's active Russian crude purchases benefiting other Asian refiners

spglobal.com

Relevant topic timeline:

9/6/2023

G7 shelves regular Russian oil cap reviews as prices soar, sources say

9/6/2023

Oil prices are more important to Saudi Arabia and Russia than market share: Kpler

The cooperation between Saudi Arabia and Russia on oil production is unprecedented, dividing the world into "producers against consumers," according to Viktor Katona, Lead Crude Analyst at Kpler.

9/13/2023

Russia-Ukraine War Reshapes Global Trade as US Pivots Away From China Toward Mexico

9/16/2023

U.S. Engages Saudi Arabia to Ensure Oil Supply Stability Amid OPEC+ Output Cuts

9/19/2023

Saudi Minister Defends Oil Cuts as Prices Rise, But Tensions With IEA Remain Over Supply Outlook