The European ban of Russian crude imports has triggered a game of global Oil Risk. Over the remainder of 2022, between 1.5 and 2.0million b/d of Russian crude oil will stop going to European countries. Where will those volumes go and how will they be replaced in Europe.
ESAI Energy has tracked and projected crude oil trade flows for more than two decades and understands the factors that shape those flows, including:
• Refining capacity and crude diet by quality
• Vertical integration
• Arbitrage pricing
• Spot and contracted
• Production capabilities
• Sanctions on Iran
• Sanctions on Venezuela
The pace and extent of the reorientation of global trade will determine crude availability by origin, quality and price. Are you ready for the next 6-12 months in the global crude oil market?