Russian Oil Switching at Sea Gathers Pace

February 11, 2023/in /by Rudolf Huber

Oh yes, it does. But this also has a price and at current prices, I doubt Russia is making a lot of money on its oil sales. Add in that China and India, the biggest buyers, squeeze Russia for sizeable discounts so if you add it all together thats a bleak picture. Better than nothing but not very good at all. All Putin can hope for is a strong price spike that happens to hold on for a while so the additional cost is covered and there is still meat on the table. This is not sustainable.

Russia is transferring record amounts of its flagship Urals crude at sea.

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