Ukrainian drones smashing into Russian refineries lately seems to be having an effect.
No no no! This is just av another example of the Russian economy booming!
Attempts to influence Western elections, or a need to ration gas at the homefront? Perhaps a little of both.
“You can’t fire me, I quit!”
-Russia
Oil prices and thus petrol prices are going to go sky heigh. The conservatives will blame ukraine tottally forgetting that while ukraine was receiving US funding they avoided blowing up russian oil refineries. The US stopped funding ukraine, ukraine got desperate and has now started hurting russia in the bottom line. This was all predicted long ago but nobody listened cos they would rather bitch about ukrainian funding than actually think through what happens if u stop.
This is a huge deal for India. They are the world’s second largest exporter of refined oil, and the largest in asia. This means a lot of buisness is about to shift to them. This is also after India has been negotiating cheap raw oil off Russia due to a combination of sanctions and the occasional case of exploding refineries leading to excess raw oil in Russia
I am sure it will but India isn’t even in the top 10 of country’s pumping the most.
It isn’t just about the pumping. You can pump crude all day and still be broke. Look at several of the middle east smaller countries or even most south America pumpers. The refining is where the industry and money is really at. Cars don’t burn crude oil, it has to get refined. Plastics don’t come out of the ground, they have to get refined. Saudi Arabia is the world’s largest crude oil exporter and they still have to rely on others to refine.
In fact, here is a direct quote from OEC-
“In 2021, Saudi Arabia imported $7.43B in Refined Petroleum, becoming the 27th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Saudi Arabia. Saudi Arabia imports Refined Petroleum primarily from: India ($2.17B), Greece ($1.09B), Russia ($892M), United Arab Emirates ($835M), and Egypt ($689M).”
