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European refiners search for alternatives to Russian oil

 Last Update: 2022-10-09
 Source: Internet
 Author: User

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Affected by the escalating conflict between Russia and Ukraine, European refiners are seeking alternatives to Russian crude

Some European refiners have emphasized that Middle East crude is a good alternative to the Urals blend

Traders said Europe was importing more sour crude from the Middle East to reduce its reliance on Russian oil

Demand for African crude from European refiners has also increased

Other European refiners turned their attention to the North Sea

Although North Sea Forties is not of the same grade as Urals, European refiners have seen increasing demand for the crude because its price is lower than that of distillate-rich varieties such as Ekofisk

Relative to small companies, the road to crude oil replacement is more difficult for large companies, but these actions are also actively underway

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