Discounts offered on Russian crude oil double in 2 months

Discounts on Russian oil imported by India have increased to $8-10 per barrel as state refiners put pressure on suppliers and reduced their intake from Russia. This has led to an increase in Russian oil's share in India's overall crude imports to 38% in September. State-run refiners have seen a surge in imports after a decline in August, with most purchases being made in the spot market. Despite buying at higher rates than the G7 price cap of $60 per barrel, Indian refiners can still afford to pay for Russian oil.

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