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IPFS News Link • B.R.I.C.S.

Saudis Double Russia Crude Imports As It Prepares For BRICS Inclusion

• by Tyler Durden

The world's largest oil exporter more than doubled the amount of Russian fuel oil in the second quarter to supply power generation stations to meet surging cooling demand this summer and allow the kingdom's crude exports to increase.

Western sanctions forced Russia to discount fuel oils on spot markets, which has increased demand in the East, not just from the Saudis but also from China and India. 

Energy trade data provided by Reuters shows Saudis imported 647,000 tons (48,000 barrels per day) of fuel oils from Russia in the second quarter -- up from 320,000 tons in the same quarter last year. 

The surge in the Russia-Saudi energy trade (also detailed in "Middle East Ramps Up Imports Of Shunned Russian Fuels") comes as BRICS International Forum President Purnima Anand told Russian newspaper Izvestia that Saudis are planning to join. That would boost multilateral cooperation between BRICS, including Saudis, meaning they wouldn't cave to the US demands to restrict Russian energy imports.