Kpler: Russian crude oil export price discounts widen

Data provider Kpler's data shows that due to pressure from the United States and the European Union on Russian oil buyers, Russia has offered discounts on its main oil prices for exports to India. "The decrease in demand from Indian refiners is beginning to have a strong impact, especially state-owned refiners, with reports indicating they are considering suspending imports of Russian oil altogether," said Kpler's head of crude oil analysis. "On the other hand, private companies are still producing oil but at a slower pace." Kpler stated that the price of Urals crude in the Urals region is more than $5 cheaper per barrel compared to the Brent crude price index. The Brent crude price index is a physical crude oil price index historically based on a basket of North Sea crude grades. Just two weeks ago, the price difference was almost zero.