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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 India's biggest oil supplier, wants to discuss the level of discounts expected by Indian refiners. India's 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 Arabia, and the UAE have suffered as a result.
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