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Kazakhstan Could Reroute Oil Flows If Black Sea Situation Worsens

OIL

Kazakhstan is evaluating whether it is possible to redirect its crude flows from Russia’s port of Novorossiysk to the Baltic port of Ust-Luga if the situation in the Black Sea aggravates, Interfax reported, citing Erik Sagiyev, deputy general director for transportation at KazTransOil.

  • Concern for tight supplies from rising tension in the Black Sea since last week has supported crude benchmarks.

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