Russian Oil Price for India Eased, Russia Extends Export Cuts, US Passes Bill to Harden Sanctions on Iranian Oil, Fire at Russian Refinery

Russian oil price for India eased in September as Indian refiners reduced purchases due to high prices and maintenance outages. Russia agreed to extend voluntary cut of oil and oil product exports until the end of 2023 to strengthen measures taken by OPEC+ countries. The US House passed a bill to harden sanctions on Iranian oil, but its effectiveness is uncertain. A fire at the Afipsky oil refinery in Russia was extinguished after a suspected drone attack.