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Russian Oil To Be Stored In Ghana In Attempt To Find New Markets

OIL

A cargo of Russian oil is heading for storage tanks in Ghana, suggesting Russian oil could be emerging in new markets according to Bloomberg vessel-tracking data and sources.

  • Traders of Russian crude could be scouring the market for new buyers of Russian barrels after the EU stopped almost all seaborne imports from the country in December. So far, Russia has predominantly diverted its crude cargoes to India and China.
  • The crude shipped from Russia to Ghana crude will be stored at tanks at the Tema oil refinery, and marks the first shipment of Russian oil to a West African country since at least Oct 2018, tracking data show.

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