Russian oil sellers slash prices in China as India reduces imports following U.S. trade deal

Russian exporters offer record discounts to Chinese refiners as India cuts purchases. This shift follows a new trade agreement between the U.S. and India.

洞察:
Oil sellers from Russia RURU have begun cutting prices for crude delivered to China CNCN following an announcement by the United States USUS that India ININ would halt oil purchases from Russia RURU. This strategic price adjustment comes as exporters seek to secure demand from China CNCN to offset the anticipated loss of sales to India ININ, a move triggered by a trade agreement between President Donald Trump donald trump and Prime Minister Narendra Modi narendra modi.
LNG-powered Russian vessel Vladimir Vinogradov unloads crude at the Deendayal Port in Vadinar in the western state of Gujarat, India, September 27, 2024. REUTERS/Amit Dave
LNG-powered Russian vessel Vladimir Vinogradov unloads crude at the Deendayal Port in Vadinar in the western state of Gujarat, India, September 27, 2024. REUTERS/Amit Dave
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