OREANDA-NEWS India's abandonment of Russian oil in favor of supplies from North and South America seems unlikely at the moment, he said in a conversation with Lenta.

"I am doubtful about this prospect. Yes, there may be talks about replacing Russian oil, but this is more likely the desire of the United States. Even technically, it's difficult.: The United States exports ultralight oil, which is essentially gas condensate. But there is no shale oil, so even the grades are not suitable here," Yushkov said.

In addition, as the analyst explained, in order to send their oil to India, the United States and other suppliers will have to withdraw the necessary volumes from other markets, which will create an imbalance. This, according to the expert, may also force countries to switch to Russian oil, because no one will be able to simultaneously increase production in such a way as to compensate for the falling volumes.

"In this case, on the contrary, we will have to reduce production for some time, because we will have nowhere to put oil. And then there will be a shortage on the world market, prices will skyrocket. And no one needs this, including the United States," the analyst concluded.

Earlier it was reported that in preparation for limiting oil supplies from Russia, India's largest state-owned oil refiner Indian Oil began searching for leaking barrels in North and South America. The company is awaiting offers from suppliers from the United States, Canada, Brazil and several other countries in the region by Friday, October 31.