Urals crude differentials to dated Brent were steady on Friday, while the share of Russian oil in India’s overall imports rose to about two-fifths in the first half of fiscal 2023/24, consolidating Moscow’s position as the top supplier.

India imported on average 1.76 million barrels per day (bpd) of Russian oil from April to September, or the first half of fiscal 2023/2024, more than double the about 780,000 bpd in the same year-ago period, tanker data from industry sources showed.

Russian crude oil arrivals in China fell in September from a peak level set in the prior month, following Moscow’s export cuts and the rising of oil prices, but Russia still maintained its spot as China’s top oil supplier.

PLATTS WINDOW

No bids or offers were made for Urals, CPC Blend or Azeri BTC in the Platts window on Friday, traders said.

NEWS

Russia said on Friday that the OPEC+ group of leading oil producers had helped to stabilise oil markets and resisted external pressure, despite “Western manipulation” in the form of price caps on Russian oil.
Source: Reuters (Reporting by Reuters; editing by Jonathan Oatis)