Free Trial

Russian Supply to Asia Unchanged Ahead of EU Sanctions

OIL

Uncertainty over the ability for Russia to find alternative buyers for oil after the introduction of the EU ban on supplies is supporting the oil markets. Europe is still receiving about 740kbpd of seaborne crude and 650kbpd of crude through the Druzhba pipeline to Germany and Poland.

  • The ban on seaborne crude supplies from Russia starts from Dec 5 with the restrictions on piped flows to Poland and Germany via the Druzhba pipeline implemented a month later. Flows to China, India and Turkey increased between Feb and May but are not yet showing any further signs of increasing to replace the exports to Europe.


Source: Bloomberg

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.