Oil market price battle: Russia and Iran offer deeper discounts to China as crude piles up at sea
Russian and Iranian oil producers are reportedly offering deeper discounts to compete for the same limited pool of Chinese buyers after India pulled back from purchases.
Analysts say India’s imports from Russia could fall by 40 per cent from January levels, to around 600,000 barrels a day, according to a scenario from Rystad Energy, as reported by Bloomberg.
