26 January 2023 | Other

Russian oil and fuel oil exports to India may reach new highs

According to the heads of oil refineries, Indian refineries may increase their purchases of Russian oil if the price per barrel remains attractive. Such a prospect would provide Russia with a large sales market.

The South Asian country has significantly increased its imports of Russian oil in 2022. Thus, record volumes of fuel were received for December, as the discount on the purchase of barrels attracted many people willing to buy black gold. Indian refineries can take cheap Russian oil into fuel - for example, diesel. It can then be sold to other regions, thus earning refiners a profit. Impending EU sanctions are expected to increase demand for fuel in Asia.  

According to Kpler, Russian fuel oil flows to India have also increased. Last December, volumes nearly doubled compared to November, exceeding 137,000 barrels per day. The imported feedstock can further be used for the production of other valuable fuels as well as for power generation.

Company MarketCheese
Period: 03.07.2026 Expectation: 2000 pips
Selling GBPUSD as BoE kept rates unchanged
Yesterday at 11:02 AM 32
Brent sell
Period: 26.06.2026 Expectation: 500 pips
Brent crude plunges deeper amid US-Iran peace deal
Yesterday at 10:06 AM 26
Period: 19.07.2026 Expectation: 1000 pips
Invest in AUDCAD up to 1.00000
Yesterday at 09:34 AM 13
Gold sell
Period: 30.06.2026 Expectation: 13000 pips
Gold sell-off targets $4,000
Yesterday at 09:04 AM 27
Period: 31.12.2026 Expectation: 11000 pips
Invest in Ethereum if it breaks through $1,850
Yesterday at 08:55 AM 11
Period: 26.06.2026 Expectation: 1150 pips
USDCAD hits 14-month highs on resilient US economy
Yesterday at 08:35 AM 10
Go to forecasts