Recently, India’s weekly oil imports from Russia reached all time high as percentage of total oil imports, exceeding 60%. On monthly basis, it is near all time high, based on Kpler data.
Questions:
Why the Biden Administration is ignoring the fact that the US lost its oil market share in India to Russia?
Why is the media ignoring this fact and focusing only Saudi “loss of market share,” despite the fact that the loss of US SHARE (%) is double that of Saudi Arabia?
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Is it perhaps cheaper, lower shipping cost, better quality, more fitted to their refining methods? What are your thoughts there? Thanks again for your insight.
Anas, great information. Thank you.
Is it perhaps cheaper, lower shipping cost, better quality, more fitted to their refining methods? What are your thoughts there? Thanks again for your insight.