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Oil Market’s Big Question: How Much Russian Crude Will Asia Buy?

  • Traders report reticience among Asian buyers about Russian oil
  • Several large European companies have stopped purchases

Two weeks into Russia’s invasion of Ukraine, and one question is becoming increasingly pivotal in the global oil market: how much crude will Asia buy from Moscow?

With many of Europe’s largest oil companies including Shell Plc, TotalEnergies SE, BP Plc, Eni SpA lining up to say they’ve essentially halted new cargo purchases, and the U.S. and U.K. announcing petroleum import bans, attention is turning to where else the crude might flow.