Indian refiners face crude cost surge as Gulf premiums rise, Russian oil discounts vanish

·19 Aug
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Indian refiners are facing a sharp rise in crude procurement costs as tightening physical supplies push Gulf and West African grades to higher premiums. Russian oil discounts have largely disappeared, while Venezuelan discounts have narrowed. Refiners are turning to costlier spot markets and distant suppliers as disruptions squeeze term-deal supplies.

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The Economic Times

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