China is taking advantage of the cheapest Russian oil prices seen so far, while India is stepping back.
Russian Urals crude is now being sold to China at a record-level discount, mainly because Indian refiners have reduced their purchases of this grade. With India — one of Russia’s biggest buyers — showing less interest, competition for these oil shipments has dropped sharply.
As a result, Chinese buyers are gaining stronger negotiating power and securing oil at significantly lower prices. This shift highlights how changes in demand from major economies can quickly reshape global energy trade flows.
The situation also reflects broader market dynamics, where geopolitics, refinery preferences, and pricing strategies continue to influence who benefits most from discounted energy supplies.