Europe is heading for oil shortages oPeniazoch – oPeniazoch.sk

Trafigura Group, Europe’s leading external oil supplier, has seen crude oil and petroleum products exports fall by about 2 and 2.5 million barrels (1 barrel = 159 liters) a day since Russia’s invasion of Ukraine, CEO Jeremy Weir said on Tuesday (March 22). “at FT’s event.” This significantly affects her number in Europe, “Weir said. “The oil market is extremely tense. And it will be even more tense and is likely to lead to supply shortages.” 500,000 tonnes of Russian oil exports, priom “physical supplies are tighter than ever before.” There is still a shortage. Russian refineries are still flowing fuel to Europe, but trade is more difficult. After the invasion, transport companies, banks and buyers avoid trading in Russian energy products within the so-called self-sanctioning. “This will force Russian refineries to cut production, we can actually see,” Tornqvist said, adding that this means that more oil will be needed instead of products, but it’s not possible. Diesel prices in Europe have risen sharply in recent weeks. At the beginning of March, contract prices rose to new record levels, as fears of a supply disruption from Russia were reflected in the already tense market situation. By way of illustration, heating oil prices in Germany rose by more than 50% in the week to 14 March.