Pakistan has placed its first order for discounted Russian crude oil, a move that could potentially reduce the country’s reliance on Middle Eastern oil producers. The order amounts to around 100,000 barrels per day (bpd) of Russian crude oil, which does not include related products.
Pakistan is looking to buy Russian oil at $50 per barrel, media reported on Sunday, as the South Asian country is grappling with an economic and foreign reserves liquidity crisis.