Does Russian oil reduce Saudi Arabia’s share in India’s markets? Anas Al-Hajji answers


Anas Al-Hajji, editorial advisor for the specialized energy platform, energy economics expert, said that Russian oil has been the focus of the media during the past period, especially with regard to seizing Saudi Arabia’s share in the oil markets in India.

Al-Hajji explained – during an episode of the program “Energy humanitiesHe presented it on Twitter under the headline “Oil Market Surprises… Don’t Stop!” – That there are graphs and figures published several months ago showing that the Gulf countries in general and the Kingdom in particular, export the same quantities to these countries on average.

He added, “But the media, for some reason, does not understand the difference between numbers and ratios, and an example of this is that the demand for oil in India and China is rising, so if Saudi Arabia was sending to New Delhi – for example – one million barrels per day two years ago, there is no change in its share even though India imports Russian oil.

He pointed out that Russia will not take from Saudi Arabia’s share, but the demand for oil is increasing in India, so the latter decided to compensate for this increase in Russian oil, and there Moscow’s share increased; “A share and a number.” If the total is added up and the kingdom’s share is calculated as a percentage, we find that it decreases as a share, but the number itself will not change.

Saudi Arabia is a major exporter to India

Energy economics expert Dr. Anas Al-Hajji said that the Western media focuses on the issue of the Saudi-Russian dispute, and some of them say that Saudi oil lost its share in favor of Russian crude, because they focus on ratios, not numbers.

He added, “Since last December 2022, the head of Saudi Aramco, Amin Al-Nasser, has officially stated that the company’s exports to India have not been affected by the increase in oil imports from Russia, which is the same statement we have confirmed 5 months ago.”

Al-Hajji confirmed that all the data that confirms this information has already been published, and the result is that the Western media is playing a game of numbers and ratios, focusing on ratios and ignoring the numbers, which if he sheds light on them, he will find that Saudi exports to India and China are stable and have not lost any market shares in favor of Russia. .

He referred to the major talks between New Delhi and Moscow, through which the Indian government is trying to persuade Putin and his government to pay the price of Russian oil in rupees, which the Russians decisively reject, so that the talks stopped after that, with their reaching a dead end.


He explained that there was a statement from a Russian official, which was strongly promoted by some Indian media, although the source is unknown. He said that the talks in this aspect did not stop, but there are problems, and therefore things have not changed until now.


He continued, “Moscow does not want to get anything from the Indian or Pakistani rupees, as the Pakistanis buy Russian oil with Chinese yuan or Emirati dirhams, and at the same time they tell the Indians that their government owns billions of rupees and does not know what to do with it.”

Oil against the Chinese yuan

Chinese Yuan – Image courtesy of Bloomberg

Dr. Anas Al-Hajji said that one of the giant international companies – a Brazilian company – that exports various materials to China, said that it would accept obtaining the yuan, which sparked supporters of the idea of ​​ending dollarization.

He added: “The truth is, if we look at the company’s details, we find that all it does is that it asks its customers in China not to pay in dollars, only to get yuan from them, and convert it into the American currency, meaning that only the difference is who will convert the currency, and not give up dollarization.” “.

The specialized energy platform editorial advisor explained that the Indians are now paying the price of Russian and Gulf oil in US dollars and UAE dirhams, and the latter is pegged to the US currency.

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