Why Is Russian Oil So Expensive? ...Middle East

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Why Is Russian Oil So Expensive?
source : OILPRICE ( Middle East ) () 17
The prospect of a 2nd coronavirus wave and consequent demand slump is putting substantial downward pressure on crudes in Europe. Differentials are weakening as most refineries run their distillation units at least 15-20% lower than the nominal capacity and might drop even lower if some of them decide to go into unplanned hibernation during the wintertime. Yet if there is one major trend that has defied the weak buying market of 2020 it is that of expensive Urals, in fact the most expensive the market has seen in the 21st century. Prompted to comply…

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