U.S. Oil Is Replacing Russian Crude In EU Markets ...Middle East

As the EU contends with the lack of Russian crude oil as a result of its restrictions on crude oil imports and the G7's price ceiling on Russian crude oil, the amount of U.S. crude oil being exported to Europe has increased significantly in recent months.  And it is expected to stay high.  Lucky for Europe, any decreases in the amount of Russian crude oil shipped into the EU is likely to be largely offset by the increase in the volume of American crude oil. In 2022 alone, total U.S. oil shipments to…

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