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Russia Could Redirect Half Banned EU Supplies

OIL

Russia could redirect half of the crude exports that will be banned by the EU from December according to Kpler.

  • Indonesia, Pakistan, Brazil, South Africa, Sri Lanka and some countries in the Middle East could buy up to 1mbpd of crude from Russia this winter. Russian has already redirected supplies mainly to India and China.
  • A redistribution of global crude flows could partially displace exports from other OPEC+ members such as from Nigeria or lower Arab Light flows from Saudi Arabia according to Kpler.

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