Russia will keep selling cheap oil at bumped-up levels to India - this is why they're both in it for the long haul, a top analyst explains
after other countries backed away from Moscow.
"The interaction between these two countries will be much longer than the naysayers might assume, because there's a mutual interest in having it longer," he added. Plus, he pointed out that big Russian companies don't have equity in China, while they do have ownership stakes in Indian refiners.In January, Russia sent almost 2 million barrels of crude a day to India, not far behind China's nearly 2.5 million, according to Kpler data. Its number three importer is on the edge of the Asia market — Turkey, well behind at around 400 thousand barrels a day.
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