Russia predicts when oil prices reach $100/barrel, doubling discount for this country

In an interview with Solovyov Live TV on October 16, Russian Deputy Prime Minister Alexander Novak predicted that by 2035, oil prices will be at $100/barrel.

The discount Russia offers India on oil prices has nearly doubled after the country's state-owned refiners reduced purchases. (Source: nhk-maritime.com)

Specifically, according to Mr. Novak, oil prices recently stood at $95/barrel but are now fluctuating between $85-90/barrel. The Russian Deputy Prime Minister noted that by 2035, oil prices will rise to $100/barrel.

Earlier, it was reported that the discount on Russian oil prices for India had nearly doubled after the country's state-owned refiners reduced purchases to put pressure on suppliers.

The discount has increased to $8-10 per barrel since the start of the year, sources said. This has boosted imports, with Russian oil’s share in India’s total crude imports reaching 38% in September, up from 33% in August.

India's state-owned refiners, which account for two-thirds of purchases, increased imports from Russia by 25% in September after a 30% drop in August. At the same time, they buy Russian oil mainly from non-Russian traders to get bigger discounts and avoid payment problems.

Source: https://baoquocte.vn/nga-du-bao-thoi-diem-gia-dau-dat-100-usdthung-tang-gap-doi-muc-chiet-khau-danh-cho-quoc-gia-nay-246431.html