Mining News

Russia shifts to Dubai benchmark in Indian oil deal 

Reuters exclusively reported that Russia’s largest oil producer Rosneft (ROSN.MM) and India’s top refiner Indian Oil Corp (IOC.NS) agreed to use the Asia-focused Dubai oil price benchmark in their latest deal to deliver Russian oil to India. The larger volumes and change in Russian oil pricing highlight closer ties between Moscow and India, which has now become the largest buyer of seaborne crude from Russia.

The post <strong>Russia shifts to Dubai benchmark in Indian oil deal </strong> appeared first on Reuters News Agency.

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