Europe’s Snub of Russian Oil Opens Door for OPEC’s Minor Players
- West African producers step up European sales to help fill gap
- US remains key producer for replacing Russian volumes
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The OPEC nations that have stepped up to replace Russian oil flows to Europe aren’t the giants of the Middle East. Instead, some of the group’s minor players are helping to fill the gap.
Within the cartel, West African producers are showing the biggest uptick in shipments to European ports, where refiners are snubbing Russian supplies following the invasion of Ukraine.