OREANDA-NEWS Russian oil supplies to India reached 2.13 million barrels per day. This is reported by RBC with reference to Kpler data.

In June, the supply of Urals brand raw materials to the Asian country increased by 13 percent year-on-year. Compared to May, shipments of the main export grade increased by 2.2 percent. The current volume has set a historical record. At the same time, the total import of Russian oil showed the second highest result in the entire history of observations — a maximum of 2.15 million barrels was reached in May 2023.

According to experts, imports of Far Eastern grades of oil ESPO (ESPO) or Sokol are at a level below the average for last year — 103 and 51 thousand barrels per day compared with 107 and 152 thousand barrels in 2023, respectively.

"Urals is more suitable for Indian refineries, which are among the deepest in terms of refining. In addition, of course, price plays a big role. ESPO is sold at a discount of one dollar to a barrel of Brent, and Urals is consistently two to three dollars cheaper per barrel. At the same time, Urals volumes are larger, and it is not being bought up by China as much as ESPO," explained Viktor Katona, head of oil market analysis at Kpler.

According to ship tracking data and reports from port agents, weekly oil exports from Russia have increased to the highest volume since May 2024. The reason for the increase in marine supplies is the end of maintenance at large export terminals and the decline in crude oil refining due to preventive maintenance at refineries and equipment repairs after attacks by Ukrainian drones. During the week, 34 tankers loaded 25.66 million barrels of Russian oil (an increase of 4.37 million barrels) — and this figure does not take into account supplies identified as the Kazakh grade KEBCO.