Global Oil Market To Witness Russia Oil Drop By 18% After Ban – EIA

The drop assumes the European Union’s move to halt crude oil imports will be imposed in six months and the petroleum product import ban in eight months, and excludes any restrictions on shipping insurance, the agency said.

Russia’s invasion of Ukraine in February upended global energy flows and prompted an almost immediate oil import ban from the U.S. and U.K. when the market was already tight. Other buyers voluntarily shunned the country’s oil. Overall supply shortages have kept oil prices over $100 a barrel since the war started and sent retail fuel prices to record highs.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FG to penalise oil companies violating regulations on human capacity development | TheCableThe federal government says it will sanction oil and gas companies that fail to comply with human capacity development (HCD) provisions contained in the Nigerian Oil and Gas Industry Content
Source: thecableng - 🏆 2. / 80 Read more »

FG to penalise oil companies violating regulations on human capacity development | TheCableThe federal government says it will sanction oil and gas companies that fail to comply with human capacity development (HCD) provisions contained in the Nigerian Oil and Gas Industry Content
Source: thecableng - 🏆 2. / 80 Read more »