Posted 1/3/2024, 10:15:33 AM
India Downplays Drop in Russian Oil Imports, Cites Unattractive Discounts Over Payments
- India says drop in Russian oil imports driven by unattractive discounts, not payment problems
- Oil minister dismisses notion that flows dropped due to payment challenges
- Imports from Russia fell to lowest level in January as some cargoes couldn't deliver amid tightening sanctions
- India seeks most economical price for crude without disruption to meet needs of 5 million barrels per day
- India has "buyer's position" in oil market and leverages that for better deals