The United States will supply Europe with more than 1 million barrels of oil per day to replace Russian
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More than 1 million barrels of oil from the United States is planned to be delivered to Europe daily, said Russell Hardy, director of oil trader Vitol. Supplies from the US should come to replace oil from Russia.
He clarified that Russian raw materials “need to find a home” outside the UK, the US and the EU. “It will cover long distances and find new markets, and at the same time it will have to be sold at a discount,” Mr. Hardy said on the sidelines of the 38th Asia-Pacific Petroleum Conference (quoted from Reuters).
Before the hostilities in Ukraine, the European Union (EU) accounted for over 60% of Russian oil exports. In 2021, the EU received 2.2 million barrels per day (bbl/d) of crude oil from Russia, as well as 1.2 million bbl/d. oil products. As part of the sanctions, the EU decided to impose an embargo on Russian oil, which will come into force on December 5. EU also discusses cap on Russian oil prices. Ministry of Energy of the Russian Federation ruled out selling oil or gas at a limited price.
Details – in the material “Kommersant” “Oil and gas covered ceilings”.
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