Europe has found a replacement for Russian oil
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In September 2022, European countries, excluding Turkey, purchased 8.46 million barrels per day per day, which was the highest since January 2020. It is reported by Bloomberg.
Two-year record highs were achieved despite a decline in deliveries from Russia. Thus, the agency emphasizes, Europe has shown that it can do without Russian oil.
In 2021, Russia accounted for an average of 34 percent of oil supplies to Europe, in September 2022, its share fell to 21 percent.
Basically, Europe increased its oil imports due to supplies from Africa, primarily from Libya. In addition, deliveries from the Middle East reached their maximum since 2019, while from the United States, by contrast, they fell to a minimum since January.
The European Union intends to abandon the import of Russian oil, which is delivered by sea, from December 2022.
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