Since the international dispute this year, Russia's crude oil sales have entered a dilemma. The major customers who originally purchased Russian crude oil followed the United States and collectively announced a ban on importing Russian crude oil.
But you should know that Russia is the second largest crude oil producer in the world, and will be able to produce 9.7 million tons of oil every day in 2021. Russia has no way to consume so much oil, so what measures has Russia taken to solve this problem? What impact will have on my country's crude oil trading?
1. Other countries dare not buy Russian crude oil
With the outbreak of international disputes at the beginning of this year, Western countries led by the United States began to crack down on Russia. They prohibit the purchase of Russian products and also prohibit the sale of any products to Russia, which directly affects Russia's development.
, and the most impact on Russia is the trading of crude oil. You should know that Russia is a diesel power with a daily oil production of more than one million tons. After experiencing the suppression of the United States, Russia's crude oil sales have dropped sharply, and domestic consumption has no way to directly affect Russia's economic development. In order to improve this situation, Russia can only seek new ways of development.
2. Cheap Russian oil
In 2014, due to the Crimea incident, , Russia's oil suffered an embargo from Western countries. At that time, Russia adopted the promotion of oil prices to negotiate with various countries, and finally restored oil exports.
Now, when facing economic restrictions from Western countries led by the United States, Russia has formulated an anti-restrictive strategy for oil trade early.
First protocol price, second crude oil discount promotion. The long-term oil agreement price is mainly aimed at strategic partners. For example, my country, , Mongolia, , etc. adopt the agreement price method with Russia. These prices will be based on the current price of international crude oil, and will be a big discount. It is also an alternative discount promotion method. This method can ensure Russia's crude oil export trade to a certain extent.
can effectively resist the crude oil restrictions imposed by Western countries led by the United States. For example, India is very independent in this crude oil restriction, not only ensuring neutrality, but also signing various economic and trade cooperation agreements with Russia. The reason why India adopts this strategy is precisely because the price of crude oil sold to India by Russia is 80% of the international crude oil price.
I believe many people have questions here. Oil is an important strategic resource. Why does my country not buy a large amount of crude oil in Russia when the price of crude oil is so low?
3. Why doesn’t my country buy Russian crude oil in large quantities
You should know that my country is the world’s largest crude oil importer and the largest oil consumer, and there is a huge demand for crude oil. But why does my country not buy a large amount of crude oil in Russia when the price of crude oil is so low? In fact, there are several reasons.
First of all, although the current Russian crude oil price is relatively low compared with other crude oil prices, it is still operating at a high level. In this case, if we purchase Russian crude oil in large quantities, according to the agreement price mechanism, the amount we want to settle must also be increased. Nowadays, my country's demand for crude oil is not that high. Since it can ensure supply, there is no need to spend a higher price to buy crude oil.
Second, my country and Russia have a long-term strategic cooperation relationship . This relationship means that to a certain extent, oil can be as much as it wants.And in the short and medium term, there is no risk that Russia refuses to provide oil to our country, so our country does not need to hoard a large amount of oil.
Third, cost a lot of money to hoard oil. Hoarding oil requires the construction of a large number of storage bases and related supporting measures, which is huge, which will lead to excessive cost expenditures in this regard, which will cause a greater burden on my country. Fourth, my country's oil supply risk control is very strict , my country mainly tends to conduct oil procurement globally.
Therefore, no matter how cheap Russian oil is, it cannot buy all of Russia's oil. It also needs to allocate crude oil supply from other countries to to ensure that my country's crude oil supply channels are broader and richer. Only in this way can we ensure that our country's crude oil can be supplied continuously and stably. Therefore, it can be said that the low crude oil price in Russia will not have much impact on my country's crude oil trading.
4. Summary
In short, although the price of Russian crude oil has dropped significantly now, it is affected by various factors. my country cannot buy Russian crude oil in large quantities . So what do you think about the current Russian crude oil price?
