Financial News Agency, January 10 (Editor Bian Chun) In the past year, over India, a large global oil consumption household, has purchased cheap crude oil from Russia. However, this momentum has fallen recently.However, the world's largest crude oil exporting country Saudi Arabia has greatly reduced oil prices a few days ago, which has attracted India's attention. Some Indian oil refineers are now interested in buying crude oil from Saudi Arabia.

Sources told the media on Tuesday that two Indian refiners Indian Oil Corp and Bharat Petroleum Corp are seeking to increase purchasing Saudi crude oil.The source added that the two oil refineers are seeking to purchase 1 million barrels of crude oil from Saudi Arabia every day.Kolkata Investment

As India intends to increase Saudi crude oil, due to the continued weakness of the oil market, Saudi Arabia lowered the flagship crude oil price sold to Asia in February Sunday.

Saudi State -owned oil producer Saudi Arabia sold it to the flagship Arab light crude oil of Asia to reduce the price of $ 2 per barrel to the quotation of the price of the quotation to the price of 1.50The US dollar, the lowest price level since November 2021.New Delhi Wealth Management

Russian oil procurement decline

Since the outbreak of Russia and Ukraine's conflict, India has been buying a large number of Russian crude oil in large quantities because Russia has provided large oil discounts to friendly countries to deal with Western sanctions.

However, Indian oil refineers' procurement of Russian oil has recently declined, and the import volume fell to a 11 -month low in December last year.Udabur Investment

Some media quoted sources as saying that India's imports of oil on Russia have declined due to problems with payment.The country is seeking to pay crude oil with the UAE currency Diram.

However, a subsidiary of Russian Petroleum Corporation has been unable to open a bank account in the UAE, so it cannot accept the UAE currency payment.According to ship tracking data, this has led to five Russian tankers floating near the Indian coast for about a month, and then turned around to the East Airlines and sailed to a new destination.

However, India has denied the decline in Russian oil imports due to payment.The country's Petroleum and Natural Gas Minister Hadop Singh Puri said last week that the decrease in oil purchased from Russia from Russia was just because other suppliers provided more crude oil discounts, but he did not specifically explain which suppliers provided it.More discount.

In addition, India also seems to be facing pressure to maintain a good relationship with the United States.Since the outbreak of Russia and Ukraine, the United States has implemented trade restrictions on Russia.According to media reports, a Russian tanker, which was sanctioned by the United States, has floated near the coast of India and the Sri Lanka for more than a month. Officials are weighing whether they are unloading on the shore.Simla Investment