Oil Price Outlook Remains Bullish As Europe Prepares Russian Oil Embargo ...Middle East

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Oil Price Outlook Remains Bullish As Europe Prepares Russian Oil Embargo
source : OILPRICE ( Middle East ) () 14
Crude oil prices remained bullish Tuesday morning after the latest signal from the European Union that it is preparing to impose an oil embargo on Russia. China Covid lockdowns continued to exert downward pressure on benchmarks, temporarily reversing the price rise, but the upside potential remains substantial, especially after BP’s CEO Bernard Looney told Reuters he expected the deficit of Russian oil to double from 1 million bpd to 2 million bpd this month. Germany’s Economy Minister Robert Habeck said on Monday that Germany was ready…

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