As per Bloomberg report, Russia is offering crude oil to India at far more discounted rates than Saudi Arabia. It adds that a fierce battle is brewing in India where Russia has undercut the price of oil from its OPEC+ ally Saudi Arabia, paving the way for Moscow to expand market share in one of the biggest crude importers. The report states that Russian barrels were cheaper than Saudi crude in India, during April through June, with the discount widening to almost $19 a barrel in May. Watch this video to find out more.
