<p>Picking up the thread, company's director finance V R K Gupta said the discounts on Russian crude are expected to come down due to moderating demand-supply situation.</p>
Choosing up the thread, firm’s director finance V R Okay Gupta mentioned the reductions on Russian crude are anticipated to come back down as a result of moderating demand-supply state of affairs.

Bharat Petroleum sees reductions on Russian crude shrinking to USD 3-6 per barrel in opposition to USD 8-10 final yr, amid range-bound international oil costs, however will proceed to import “vital” volumes, the corporate brass informed traders on Friday.

“Our expectation is that international provide and demand shall be comparatively balanced and the costs could be within the vary of USD 83-87. The elements that would affect costs is essentially associated to unplanned manufacturing disruptions, a danger highlighted by the current tensions in West Asia,” chairman G Krishnakumar mentioned in his opening remarks on the traders name.

Choosing up the thread, firm’s director finance V R Okay Gupta mentioned the reductions on Russian crude are anticipated to come back down as a result of moderating demand-supply state of affairs. “Final yr, there was an over-supply. However now demand-supply dynamics is in average zone. So we predict average reductions, not aggressive.” Russian shipments made up roughly 39% of crude processed by BPCL in 2023-24.

  • Printed On Could 11, 2024 at 02:40 PM IST

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