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Poland Becomes Number One Destination for N Sea Crude

OIL

Poland has become the leading destination for North Sea crude, following its cessation of purchases of Russian barrels.

  • Poland imported 365k b/d of North Sea oil in November, exceeding purchases from the UK and the Netherlands for a third straight month.
  • Over 95% of North Sea crude is now shipped to European refineries, up from pre-war levels of 75%.
  • Norway’s Johan Sverdrup grade has become a favourite to replace Urals crude, Bloomberg.

Source: Bloomberg

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