{"id":4742,"date":"2023-11-10T12:33:40","date_gmt":"2023-11-10T10:33:40","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=4742"},"modified":"2023-11-10T12:33:40","modified_gmt":"2023-11-10T10:33:40","slug":"india-saved-almost-3-bln-by-importing-oil-from-russia","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=4742","title":{"rendered":"India saved almost $3 bln by importing oil from Russia"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">India saved nearly $2.7 billion in the first nine months of 2023 by importing discounted Russian crude oil under Western sanctions, Reuters calculated, using data from India&#8217;s commerce ministry.<\/p>\n<p>Access to cheap Russian oil has allowed India to cut imports from the Middle East, where prices have strengthened after Saudi Arabia&#8217;s voluntary additional supply cuts since July.<\/p>\n<p>The average price of Russian crude oil supplied to Indian refiners during this period was $525.60 per ton, including transportation and insurance costs.<\/p>\n<p>In comparison, the average price of Iraqi crude oil, which is similar in quality to medium sour Russian Urals crude oil and accounts for the bulk of India&#8217;s purchases from Russia, averaged $564.46 per ton during the same period.<\/p>\n<p>That equates to savings of $2.7 billion for India compared with what it would have paid if it had bought Iraqi oil instead, the calculations showed.<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>India saved nearly $2.7 billion in the first nine months of 2023 by importing discounted Russian crude oil under Western sanctions, Reuters calculated, using data from India&#8217;s commerce ministry. Access to cheap Russian oil has allowed India to cut imports from the Middle East, where prices have strengthened after Saudi Arabia&#8217;s voluntary additional supply cuts [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4742"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/4743"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}