Core Insights - Russian oil exports to India are facing significant discounts due to pressure from the US and EU on Russian oil buyers, impacting demand [1] - Indian state-owned refiners are reportedly considering a complete halt on imports of Russian oil, while private companies are still extracting oil but at a slower pace [1] - The price of Urals crude oil is now over $5 cheaper per barrel compared to the North Sea crude price index, which had a price difference that was nearly zero two weeks ago [1]

Group 1 - The price of Russian Urals crude oil delivered to India in August was $1.70 to $2 per barrel lower than the spot price of Brent crude oil, marking the smallest discount since 2022 [1]