BPCL expects to get lower discounts on Russian oil

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NEW DELHI: Bharat Petroleum sees discounts on Russian crude shrinking to $3-6 per barrel in opposition to $8-10 final 12 months, amid range-bound international oil costs, however will proceed to import “significant” volumes, the corporate brass instructed traders on Friday.
“Our expectation is that global supply and demand will be relatively balanced and the prices would be in the range of $83-87.The factors that could impact prices is largely related to unplanned production disruptions, a risk highlighted by the recent tensions in West Asia,” chairman G Krishnakumar mentioned in his opening remarks on the traders name.
Picking up the thread, firm’s director finance V R Ok Gupta mentioned the discounts on Russian crude are anticipated to come down due to moderating demand-supply scenario. “Last year, there was an over-supply. But now demand-supply dynamics is in moderate zone. So we are expecting moderate discounts, not aggressive.” Russian shipments made up roughly 39% of crude processed by BPCL in 2023-24.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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