Indian refiners opt for cheaper Urals crude as Russian grades get expensive

Indian refiners’ thirst for cheaper Urals increased in October as they cut imports of more expensive Russian grades to keep costs down.

Urals, the flagship Russian crude which is selling at about $10 discount to more expensive grades like ESPO and Sokol, made up 90% of the total imports from Russia in October. This compares to 72% in September and an average of 75% during January-September.