Take Your Trading To The Next Level. Get Started Here!

EU refiners turn to Kazakh, Azeri, Norwegian crudes to plug Russian supply gap

December 16, 2022 Comments Off

European refiners have accelerated their shift to buying more crudes from Kazakhstan, Azerbaijan, Norway, the US and Guyana as Western sanctions on Moscow saw the trade bloc’s Russian imports sink to record lows, according to tanker tracking data. Once Europe’s biggest supplier of crude shipping a fifth of the EU’s seaborne imports, Russian oil flows to the region have collapsed…