Russian Crude Oil Discounts for Indian Refiners

Why did Russia increase its discounts on crude oil sales to Indian refineries?

• To maintain its market share in India

• To reduce the cost of imported crude for India

• To compete with other oil-producing countries

• To increase its revenue from oil exports

What is the benchmark grade of Russian crude oil that Indian oil companies source?

• Urals

• Brent

• Gulf

• Sour

Why did Indian buyers resist efforts to cut discounts on Russian Urals grade sales?

• To increase their profit margins

• To reduce their dependence on Russian oil

• To maintain the competitiveness of Urals grade

• To negotiate better terms with Russian exporters

What is the approximate increase in Indian purchases of Russian oil in September compared to August?

• 17%

• 20%

• 25%

• 30%

How much could India spend on oil imports at current rates?

• $32 million

• $32 billion

• $320 million

• $320 billion

What is the main benefit of higher discounts on Russian oil for India?

• Increased revenue from oil exports

• Reduced sourcing costs for refineries

• Improved trade relations with Russia

• Higher profit margins for oil traders

What is the difference in discounts on Russian Urals grade oil between August and September?

• $1-2 per barrel

• $2-3 per barrel

• $3-4 per barrel

• $4-5 per barrel

What is the market share of Russia in India's crude oil imports?

• 42%

• 50%

• 58%

• 66%

What is the lowest level of Indian purchases of Russian oil since January?

• 1.55 million barrels per day

• 1.65 million barrels per day

• 1.75 million barrels per day

• 1.85 million barrels per day

What is the estimated volume of Russian oil imports by India in September?

• 1.55 million barrels per day

• 1.65 million barrels per day

• 1.75 million barrels per day

• 1.83 million barrels per day