In the aftermath of the russian-uu conflict, anything that could be said to have occurred in russia has received much more attention from other countries. At the same time, russia’s oil has been significantly depleted, and russia is one of the world’s most famous oil-producing countries, so it is particularly large in terms of total oil, while some of its oil adjustments may even affect the overall trend of international resources of this kind。
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However, even though russia's oil is currently so cheap, we do not import much from russia, and why is that
First of all, let us understand the reasons for the drop in oil prices in russia, the most obvious of which is that russia, which has suffered from the effects of the russian-uu conflict and the sanctions imposed by western countries, has already had a significant impact on its economy, and after losing europe, which is an enormous energy market, the russian side has been able to turn its cooperation into an asian country。
In this case, however, a more favourable price is needed, because the process of exporting oil to asia is also more costly to transport, so they have to lower prices further to reduce competitiveness and seek a larger oil cooperative market for themselves。
So, in fact, russia’s sharp reduction in oil prices is also aimed at ensuring its own energy cooperation and opening up another new market, the most important of which is that its future development can be maintained at a certain level, without falling too badly, and that, in the long run, countries are now facing energy transformation。
While for some oil-scarce countries this resource is needed in the short term to compensate for the shortage of oil resources in the energy transition process, for russia, which is itself a very large country, there is a need for more use of nuclear energy, as well as wind, as clean energy in the energy transition process, so it would be useful for its own country if oil could be used for more benefits。
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Thus, in the overall balance, according to the relevant data, their oil prices fell by one third in the month of december 2022, which is equivalent to 65 per cent compared to international oil prices. However, this has had a clear effect, as india recently purchased large quantities of oil from russia at $60 per barrel。
The drop in russian oil prices is indeed a very good opportunity for many countries to secure their national energy needs at lower cost. In such circumstances, however, my country did not take the opportunity to purchase more russian oil, but it did so for its own reasons. As an industrial country, the demand for these oil resources is naturally also considerable。
According to the relevant data, by july 2022, our oil purchases from russia had reached 7. 15 million tons, while in the first eight months of 2022 our cumulative oil purchases from russia amounted to nearly 48. 5 million barrels。
Although such data sound so great that, in fact, the amount of oil we buy from saudi arabia is as high as 4. 984 million tons, russia is the country with the largest share of oil, but not the largest, and not just the only way in which we buy oil. The most important reason is that energy use is not restricted by other countries。
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Oil, as a non-renewable resource, is a key catalyst for the state and is important in strategic development, so for some countries, even oil holdings are not necessarily traded with other countries。
Although relations between china and russia seem to be good at present, in the interest of long-term security, our country will not place eggs in the same basket, an option for our energy security。
Moreover, the cost of transporting oil between our two countries is actually very high. Although the price of russian oil appears to be much lower than that of international oil prices, trans-shipment charges, handling fees, etc., may also be incurred in the course of transport, and the aggregate crude oil sold to our country is not significantly different from the price of other crude oil, so it appears that low prices are only superficial, and that there will be no significant cost savings for our country in this regard。
Even if china and russia have already built crude oil pipelines, the volume of transport is limited, and new pipelines will need to be repaired if they are to be increased, but they are not cheap, and it would take a long time to negotiate between the two countries in the early stages of construction. If that were the case, it would be easier to import crude oil directly from the middle east, and probably less expensive。
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