Tuesday, July 18, 2023

Russia's been able to find new buyers of its oil excluding lost European sales.

By selling at bargain prices and doing shipping swaps at sea, transferring the cargo while at sea, Russia has suffered no great loss in losing European customers.

The Economist estimates Russia still sells about 15% of the worldwide diesel market.  Discounts go to the Latin American countries, particularly, Brazil, and the African countries, including Egypt.  Turkey adds to the oil it refines by buying Russian.  (July 1st issue, p, 60)

FYI  

No comments:

Post a Comment