Page 2 - Basrah Medium News Today

India’s oil imports from Riyadh in September were at around 556,185 bpd, down nearly a third from August volumes. Between January 2022 and August 2023, the import volumes averaged at over 750,000 bpd.

Surprisingly, the anticipated OSP increase for Saudi crude to Asia didn’t materialize, with Saudi Arabia becoming more cautious not to destroy demand in its key market

India, the worlds third biggest oil importer and consumer, also raised imports from Iraq while taking less Saudi oil, the data showed.

Cheaper Russian crude compared to Middle Eastern alternatives has prompted Indian refiners to import more crude from Russia in September compared to a seven-month low in August

Saudi Arabia’s production cuts are gradually moving into their third month of existence, creating a level of backwardation that the oil markets hasnt seen in a long time

NL Bussiness desk India will soon meet Iraq and the United Arab Emirates (UAE) to seek a definitive rate of discount on crude oil similar to what Russia has provided so far, sources said. ultiple officials and industry executives said Iraq, which is India’s biggest oil supplier, wants to discuss the level of discounts expected

India will soon meet Iraq and the United Arab Emirates (UAE) to seek a definitive rate of discount on crude oil similar to what Russia has provided so far, sources said. Multiple officials and industry executives said Iraq, which is Indias biggest oil supplier, wants to discuss the level of discounts expected by Indian refiners. Indias focus on snapping up ever-increasing volumes of Russian crude oil has led to a corresponding decline in imports from the Middle East. Flows from Iraq, Saudi Arabi...

The rollover of Saudi oil output cuts into August and a visibly tighter market have finally led to more bullish sentiment in markets, leading to higher Middle East crude prices

Timely US refinery restarts provide export advantage US regaining Brazil market import share Most US refining margins moved higher for the week ended July 21 as global demand for US gasoline and diese

As Middle Eastern producers were thinking of formula prices for their cargoes loading in June, they did not necessarily see the scope of the macroeconomic headwinds that they were up against