How low is Russian oil prices?Saudi Arabia is double buying

German "Commercial Daily": Saudi Arabia uses imported oil to generate electricity, and then exports its own oil

According to the German "Business Daily" website reported on the 14th, the world's second largest oil export country Saudi Arabia in Saudi Arabia increased more than doubled from Russia in the second quarter of Russia compared with the same period last year, and used for power generation.It is reported to quote the data of Lufut Company that from April to June this year, Saudi Arabia imported 647,000 tons of oil from Russia, which was equivalent to importing 48,000 barrels (159 liters per barrel) per day.

It is reported that in the same period last year, Saudi Arabia imported 320,000 tons of oil from Russia.The country uses imported oil to generate electricity and then exports its own oil.The hot summer month requires a lot of electricity to cool down.

According to reports, due to international sanctions, Russia sold oil at a lower price in the world market.Although many countries do not buy Russia's oil because of the conflict of Ukraine, India and many countries such as Africa and the Middle East have added imports.

Source: Reference message

- END -