Cheap Russian oil is heading to China and India amid sweeping sanctions

The Purge

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Russia is the world's third-largest oil producer, but santions have dented demand for its products. As a result, Russian oil is trading extremely cheaply, making it more competitive as global oil prices surge. Price-sensitive buyers from China and India are buying cheap Russian oil. Sweeping sanctions against Russia have hit the country's oil exports, sending prices down so much that some buyers from China and India are enticed to snap up some cargoes.

Russia is the world's third-largest producer oil producer, but the country has fallen out of favor with buyers and investors after its invasion of Ukraine. The US and the UK have banned Russian imports, but neither country is a large buyer of Russian energy products. The European Union, which relies on Russia for 40% of its natural gas and about 30% of its oil, is considering a ban as well. Meanwhile, energy companies, from producer BP to oil services firm Schlumberger, are retreating from the Russian market.

As a result, even though Brent crude oil futures have soared, Russia's flagship Urals oil is trading at a record discount to dated Brent, according to S&P Global Commodity Insights.

On Wednesday, S&P Global Platts assesed Urals at the price of dated Brent — the benchmark price of physical cargoes of North Sea crude oil — at a record discount of around $31 a barrel. That's about three times the discount of $11 a barrel on February 24 — the day Russia invaded Ukraine — according to S&P.

Meanwhile, dated Brent has been rising, hitting $126.50 a barrel on Wednesday, up about 20% from $106.52 a barrel on February 24, according to S&P. Global oil prices have surged to 14-year highs this month, driven by concern about a shortfall in supply as a result of the war in Ukraine war.

(Excerpt) Read more at

Russia is the world's third-largest oil producer, but santions have dented demand for its products. As a result, Russian oil is trading extremely cheaply, making it more competitive as global oil prices surge. Price-sensitive buyers from China and India are buying cheap Russian oil. Sweeping sanctions against Russia have hit the country's oil exports, sending prices down so much that some buyers from China and India are enticed to snap up some cargoes.

Russia is the world's third-largest producer oil producer, but the country has fallen out of favor with buyers and investors after its invasion of Ukraine. The US and the UK have banned Russian imports, but neither country is a large buyer of Russian energy products. The European Union, which relies on Russia for 40% of its natural gas and about 30% of its oil, is considering a ban as well. Meanwhile, energy companies, from producer BP to oil services firm Schlumberger, are retreating from the Russian market.

As a result, even though Brent crude oil futures have soared, Russia's flagship Urals oil is trading at a record discount to dated Brent, according to S&P Global Commodity Insights.

On Wednesday, S&P Global Platts assesed Urals at the price of dated Brent — the benchmark price of physical cargoes of North Sea crude oil — at a record discount of around $31 a barrel. That's about three times the discount of $11 a barrel on February 24 — the day Russia invaded Ukraine — according to S&P.

Meanwhile, dated Brent has been rising, hitting $126.50 a barrel on Wednesday, up about 20% from $106.52 a barrel on February 24, according to S&P. Global oil prices have surged to 14-year highs this month, driven by concern about a shortfall in supply as a result of the war in Ukraine war.

(Excerpt) Read more at msn.com

it-is-what-it-is-oh-well.gif

Laughing at Xiden as we get soaked!!!!!
 
Russia is the world's third-largest oil producer, but santions have dented demand for its products. As a result, Russian oil is trading extremely cheaply, making it more competitive as global oil prices surge. Price-sensitive buyers from China and India are buying cheap Russian oil. Sweeping sanctions against Russia have hit the country's oil exports, sending prices down so much that some buyers from China and India are enticed to snap up some cargoes.

Russia is the world's third-largest producer oil producer, but the country has fallen out of favor with buyers and investors after its invasion of Ukraine. The US and the UK have banned Russian imports, but neither country is a large buyer of Russian energy products. The European Union, which relies on Russia for 40% of its natural gas and about 30% of its oil, is considering a ban as well. Meanwhile, energy companies, from producer BP to oil services firm Schlumberger, are retreating from the Russian market.

As a result, even though Brent crude oil futures have soared, Russia's flagship Urals oil is trading at a record discount to dated Brent, according to S&P Global Commodity Insights.

On Wednesday, S&P Global Platts assesed Urals at the price of dated Brent — the benchmark price of physical cargoes of North Sea crude oil — at a record discount of around $31 a barrel. That's about three times the discount of $11 a barrel on February 24 — the day Russia invaded Ukraine — according to S&P.

Meanwhile, dated Brent has been rising, hitting $126.50 a barrel on Wednesday, up about 20% from $106.52 a barrel on February 24, according to S&P. Global oil prices have surged to 14-year highs this month, driven by concern about a shortfall in supply as a result of the war in Ukraine war.

(Excerpt) Read more at

Russia is the world's third-largest oil producer, but santions have dented demand for its products. As a result, Russian oil is trading extremely cheaply, making it more competitive as global oil prices surge. Price-sensitive buyers from China and India are buying cheap Russian oil. Sweeping sanctions against Russia have hit the country's oil exports, sending prices down so much that some buyers from China and India are enticed to snap up some cargoes.

Russia is the world's third-largest producer oil producer, but the country has fallen out of favor with buyers and investors after its invasion of Ukraine. The US and the UK have banned Russian imports, but neither country is a large buyer of Russian energy products. The European Union, which relies on Russia for 40% of its natural gas and about 30% of its oil, is considering a ban as well. Meanwhile, energy companies, from producer BP to oil services firm Schlumberger, are retreating from the Russian market.

As a result, even though Brent crude oil futures have soared, Russia's flagship Urals oil is trading at a record discount to dated Brent, according to S&P Global Commodity Insights.

On Wednesday, S&P Global Platts assesed Urals at the price of dated Brent — the benchmark price of physical cargoes of North Sea crude oil — at a record discount of around $31 a barrel. That's about three times the discount of $11 a barrel on February 24 — the day Russia invaded Ukraine — according to S&P.

Meanwhile, dated Brent has been rising, hitting $126.50 a barrel on Wednesday, up about 20% from $106.52 a barrel on February 24, according to S&P. Global oil prices have surged to 14-year highs this month, driven by concern about a shortfall in supply as a result of the war in Ukraine war.

(Excerpt) Read more at msn.com

it-is-what-it-is-oh-well.gif

Laughing at Xiden as we get soaked!!!!!
Let china and russia take the oil and stick it up their ass

as long as the civilized nations are not dependent - and therefore compromised by russia - we have the ability to defend ourselves

china is ruled by evil men who are enemies of the values that free democratic nations stand for
 
Let china and russia take the oil and stick it up their ass

as long as the civilized nations are not dependent - and therefore compromised by russia - we have the ability to defend ourselves

china is ruled by evil men who are enemies of the values that free democratic nations stand for
You can say the same about Ukraine

Yeah, why did DC politicians send their kids to "work" in Ukraine energy businesses?
 
Say bye-bye to Ukraine as you know it. Biolabs, dossiers, no show jobs for American politicians via influence pedaling... Good riddance!
I didnt know much about ukraine in the first place

other not letting putin to add ukraine to his trophy case I dont much care about them at all
 
Let china and russia take the oil and stick it up their ass

as long as the civilized nations are not dependent - and therefore compromised by russia - we have the ability to defend ourselves

china is ruled by evil men who are enemies of the values that free democratic nations stand for

The ONLY nations involved in the sanctions are western democracies. The rest of the world doesn't care.
 

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