Switch from Russia to Venezuela crude oil possible? SBI sees $3 billion savings - explained

India could slash its crude import bill by nearly $3 billion annually by strategically shifting from Russian oil to Venezuelan heavy crude. A discount of $10-12 per barrel on Venezuelan oil makes this switch commercially viable, despite longer shipping routes. This potential saving highlights evolving import strategies driven by market dynamics and refining capabilities.

from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/sX8URMY
https://ift.tt/7pRZ6dK