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According to the report, oil prices have surged to a four-month high, with Brent crude exceeding $82 per barrel and WTI crude hitting $80. This spike follows the US’s new sanctions on Russia, targeting 183 oil tankers supplying countries like India and China.
The report said that the sanctions are shrinking oil supply globally, driving up prices and sparking fears of inflation in developing economies like India. India, which imports over 80% of its crude needs, is already feeling the impact.
The report also stated that Russian oil supplies to India could drop below 800,000 barrels per day by February, down from over a million barrels in December 2024.
The report added that Indian refiners and banks are rushing to secure supplies and avoid further disruptions. As the US sanctions reshape global oil dynamics, India and other economies are left scrambling for alternatives.
There will be many changes in 2025 and all must hope that the situation that the world is facing is not extreme. It should be explained why sanctions on oil tankers impact Russia and India. Whose tankers are those? Why do those oil tankers listen to USA sanctions? Why is Russia not using its tankers to supply oil?
Watch the report via the YT link.
The report said that the sanctions are shrinking oil supply globally, driving up prices and sparking fears of inflation in developing economies like India. India, which imports over 80% of its crude needs, is already feeling the impact.
The report also stated that Russian oil supplies to India could drop below 800,000 barrels per day by February, down from over a million barrels in December 2024.
The report added that Indian refiners and banks are rushing to secure supplies and avoid further disruptions. As the US sanctions reshape global oil dynamics, India and other economies are left scrambling for alternatives.
There will be many changes in 2025 and all must hope that the situation that the world is facing is not extreme. It should be explained why sanctions on oil tankers impact Russia and India. Whose tankers are those? Why do those oil tankers listen to USA sanctions? Why is Russia not using its tankers to supply oil?
Watch the report via the YT link.