India, the largest buyer of sea shipments of Russian oil, has not been purchasing Russian premium ESPO grade oil shipped through the Kozmino port for two months. This was reported by “Kommersant”.
Previously, the country had sharply reduced imports of Sokol, another premium oil produced in Sakhalin fields. This was due to disputes over fuel payments, as well as concerns of Indian importers about the tightening of the price ceiling for oil from the Russian Federation.
It is stated that ESPO supply to India last year was 95 thousand barrels on average and 60 thousand barrels per day in the second half of 2022.
ESPO is a type of Russian oil with a low sulfur content (less than 0.6%), sourced from fields in eastern Siberia.
On the eve of the price of Brent oil in May futures contracts for the first time since November 7, 2023 overcome at $85 per barrel.
March 12 Russian President Vladimir Putin statedThat Russia may lose its share in the global oil market due to production cuts under OPEC+ agreements.
Putin before promise Oil workers have 100 years of work ahead of them.