Russia fails to find new markets for its oil – Bloomberg

Spread the love

Russia cannot find new markets for its oil - Bloomberg

In early December, the European market will close for Russian oil, but the search for new sales outlets for almost 1.4 million barrels of oil per day in Russia has not yet been successful.

Russia has started having problems finding new markets for its oil. This was reported by Bloomberg on Monday, October 31.

It is noted that Moscow is trying to secure oil markets for itself until the time when European Union sanctions on offshore exports of Russian oil come into force on December 5.


Shipping from Russia rose in the seven days to October 28, but the four-week average reversed, according to Bloomberg, with both figures pegging shipments at just over 3 million barrels per day.

About 740,000 barrels per day of this total were supplied to European countries, a market that will largely disappear by the end of November.

In addition, Russia will lose another 650,000 barrels per day of distribution channels, delivered to Poland and Germany under the Druzhba system. Thus, Moscow needs to find new markets for almost 1.4 million barrels of oil per day.

Earlier, the World Bank said that after the introduction of restrictions on the supply of Russian oil in December, its exports will decrease by 2 million barrels per day. day.

News from Telegram. Subscribe to our channel