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Bloomberg says Russia is winning the energy market

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MOSCOW (Sputnik) – Bloomberg columnist Javier Blass says Russia is winning the energy market and has an opportunity to deal with Western sanctions, while the EU faces an energy crisis in the fall. may face.

Brass said Russian oil production returned to levels observed before Moscow’s special military operation in Ukraine in July, averaging about 10.8 million barrels per day.

“Russia won about 1 million barrels of new customers a day, so European oil refiners stopped buying because of self-sanctions,” wrote a columnist covering energy and commodities.

Most of that crude goes to Asia, especially India, as well as Turkey and other places in the Middle East, he said.

With Brent crude hovering around $100 a barrel and Russia being able to offer smaller discounts, Blass said energy sanctions against Moscow are not working, with huge money flowing into the Kremlin. Stated.

According to him, Russia’s political successes are: In March and his April, Western politicians thought OPEC, led by Saudi Arabia and his UAE, would break its alliance with Russia, but the opposite was true.

Russian President Vladimir Putin can afford to withhold revenue by restricting natural resources, Blas said. Gas sales to Europeprepared for large retail energy price increases and potential shortages.



https://sputniknews.com/20220811/russia-winning-in-energy-markets-bloomberg-says-1099468723.html Bloomberg says Russia is winning the energy market

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