Global Oil Flows Are Changing As Russian Crude Moves East ...Middle East

Russian oil flows are increasingly moving in an eastern direction, while fuels produced in the East will move in a western direction, Vitol’s chief executive Russell Hardy said at an industry event. "It's going to go further and longer distances and find different markets, and in doing that it's going to have to trade at a discount," Hardy said of Russian oil, as quoted by Reuters. "You're beginning to see that with fuel coming east that would otherwise have stayed in Europe, and fuel in the East going to the West to cover the shortfall,"…

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