Russian oil sellers cut prices in China to attract demand as India wavers

Core Insights - Discounts on Russian oil exports to China have reached new records as sellers reduce prices to attract demand from China, the world's largest crude importer, while compensating for anticipated losses in sales to India [1] Group 1 - The widening discounts on Russian oil are a strategic move to increase competitiveness in the Chinese market [1] - The reduction in prices is a response to the potential decline in sales to India, indicating a shift in export strategies [1] - This trend highlights the ongoing dynamics in the global oil market, particularly the relationship between Russian oil suppliers and major importers like China [1]