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Industry Trend

Mystery Traders Cloud Russian Oil Export Picture

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• Obscure trading companies have started lifting Russian crude oil as large trading houses and the global oil majors withdraw due to EU sanctions and public scrutiny.

• Sanctions have not forced the large drop in Russian oil exports that the US and EU had hoped for, with volumes falling only slightly from prewar levels, as smaller firms move barrels into India, China and parts of Europe.

• The Russian oil trade is likely to come under further pressure as the EU readies broader sanctions, pointing to a growing role for small, obscure trading firms in moving these barrels.

The Issue

Topics:
Crude Oil, Corporate Strategy , NOCs, Opec-Plus Supply , Oil Trade
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