India announced its intention to ban the unloading of sanctioned tankers transporting Russian oil. Bloomberg reported this on Monday, January 13.. . . . . OPEC has 3 million barrels per day of spare capacity, while non-OPEC suppliers such as the US, Canada, Brazil, Guyana can easily add barrels.

Indian oil refiners are negotiating urgent agreements with suppliers from the Middle East. Depending on the market situation, they may be looking for additional barrels. Indian refiners could lose the discounts they have enjoyed on Russian oil if supplies become scarce.. Russia will find ways to deliver its barrels to India. Indian banks will require certificates of origin to ensure oil does not originate from sanctioned suppliers. . . . Subscribe to our channels https://t. me/korrespondentnet and WhatsApp.