Switch from Russia to Venezuela crude oil possible? SBI sees $3 billion savings - explained

India could slash its crude import bill by nearly $3 billion annually by strategically shifting from Russian oil to Venezuelan heavy crude. A discount of $10-12 per barrel on Venezuelan oil makes this switch commercially viable, despite longer shipping routes. This potential saving highlights evolving import strategies driven by market dynamics and refining capabilities. https://ift.tt/6p5lPV3