CLSA warns that crude oil prices may rise to $100 if India stops Russian imports. India currently imports 36% of its crude oil from Russia. The US has imposed tariffs on Indian exports due to this reliance. CLSA estimates India’s benefit from discounted Russian crude is only $2.5 billion. A disruption could strand 1% of global oil supply.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets