Russian Oil Price for India Eased, Russia Extends Voluntary Export Cuts, US House Passes Bill to Harden Iranian Oil Sanctions, 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 in maintaining oil market stability. US House passed bill to harden sanctions on Iranian oil, but its effectiveness is uncertain. Fire at Afipsky oil refinery near Novorossiisk, a major port, extinguished.