Pakistan has made its first purchase of Russian crude oil as a test run. With Chinese yuan payments, Russian crude oil is being supplied to Pakistan at a discount of up to $18 a barrel.
According to statistics from analytics company Kpler, Pakistan purchased 154,000 barrels of oil daily in 2022, essentially unchanged from the previous year. Saudi Arabia, the world's top oil exporter, and the United Arab Emirates provided most of the crude.
If Russian oil output were to reach 100,000 barrels per day, Pakistan’s Middle Eastern suppliers might see a severe decrease.
Pakistan will inspect the petroleum products manufactured from refined Russian oil, according to the officials. Even though the grade of Russian oil is not especially outstanding and its transportation costs are high, Russian officials have given Pakistan a discount of 16 to 18 dollars per barrel to match the quality and freight of Arab light oil.
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