Oil demand in India is going way up - Jan 16
Posted: Mon Jan 16, 2023 3:02 pm
Note below was just received from Keith Kohl at "The Energy Investor".
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In case you're wondering how Russia is staying afloat during all this chaos, here’s your answer. Gazprom, Russia’s state-controlled energy giant, is raking in massive profits thanks to surging oil prices.
Indian refiners have had zero qualms about buying up as much oil as they can, even surpassing China as Russia’s best customer. India was importing an average of 1.2 million barrels a day in December with no plans to slow down.
India’s economy is surging to unprecedented levels, forcing the country’s leader to dig in deep for energy. Imports from Iraq and Saudi Arabia have also jumped nearly around 10% as India scrambles to meet its climbing energy needs.
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In case you're wondering how Russia is staying afloat during all this chaos, here’s your answer. Gazprom, Russia’s state-controlled energy giant, is raking in massive profits thanks to surging oil prices.
Indian refiners have had zero qualms about buying up as much oil as they can, even surpassing China as Russia’s best customer. India was importing an average of 1.2 million barrels a day in December with no plans to slow down.
India’s economy is surging to unprecedented levels, forcing the country’s leader to dig in deep for energy. Imports from Iraq and Saudi Arabia have also jumped nearly around 10% as India scrambles to meet its climbing energy needs.