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Ukraine War Brief Podcast @ukrainewarpod.bsky.social · 16/03/2026

Oil guru Javier Blas from Bloomberg: “Somewhere in the Kremlin, Vladimir Putin is rubbing his hands. India is paying ~$99 a barrel for Russian crude Urals (including shipping costs). And since the US eased its sanctions on Russian crude, it's all legal.”

Somewhere in the Kremlin, Vladimir Putin is rubbing his hands.
India is paying ~$99 a barrel for Russian crude Urals (including shipping costs). And since the US eased its sanctions on Russian crude, it's all legal.
7:25 AM • 3/16/26 • 68K Views

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Ukraine War Brief Podcast @ukrainewarpod.bsky.social · 16/03/2026

$99/barrel for Urals, if sustained, is an absolute boon for the Russian budget. Oil output before/after war, drop: UAE: 5.6/3.56, -2 mbd Kuwait: 2.6/1.3, -1.3 mbd Venezuela: 1.1/0.78, -0.28mbd

Bloomberg: UAE oil production has fallen to about 2 million barrels a day from 3.56 million barrels a day last month, the person said, asking not to be identified discussing confidential information.

Kuwait's oil production has dropped to about 1.3m b/ d from 2.6m b/d last month, a person familiar with the matter said, asking not to be identified discussing confidential information.

Venezuela's oil output fell 21% to 780,000 barrels a day in January

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leoskyview.bsky.social @leoskyview.bsky.social · 16/03/2026

Shipping to India was up to $16/barrel on sanctions iirc. Probably got cheaper without sanctions. So $83/barrel is the minimum. Enough to undo a lot of the good seen in the Jan-March budget numbers (since they represent December-Feb oil prices). Damn it.

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