# Russian Oil Discounts Hit 3-Year High as Middle East Supplies Recover

- URL: https://talkfuse.com/story/russian-oil-discounts-hit-3-year-high-as-middle-east-supplies-recover/
- Published: 2026-11-13T13:04:00+00:00
- Updated: 2026-11-13T14:51:58+00:00
- Original publisher: The Moscow Times
- Original article: https://www.themoscowtimes.com/2026/11/13/russian-oil-discounts-hit-3-year-high-as-middle-east-supplies-recover-a94256
- Topics: Europe, Middle East, World

## Key points

- Urals discounts reached their widest in over three years.
- Middle Eastern supplies are increasing competition for Russian crude.
- Russian exports held steady despite weaker prices.

## Summary

Russian Urals crude was offered at its widest discounts to Brent in more than three years in early November, as Middle Eastern supplies recovered and Indian purchases of Russian oil fell. The discounts point to stronger competition for Russian exports, while analysts expect lower global prices and reduced competitiveness to weigh on producers’ earnings.

Between 1 and 6 November, Urals was priced $31 a barrel below Brent at Baltic ports and $33 below at Novorossiysk, the widest gaps since April 2023. Export volumes remained broadly steady, but India imported 2.1 million barrels a day through the Strait of Hormuz, compared with 1.8 million from Russia. Russian crude for December delivery to India’s west coast fell $2.30 to $94.38 a barrel, its first discount to Brent there since August.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.