, Columnist
The World May Need That Russian Oil Output Cut After All
If demand continues to weaken, oil markets will shrug off looming sanctions on Russian crude
Rotterdam’s oil storage tanks will soon be off limits for Russian crude
Photographer: Yuriko Nakao/BloombergThis article is for subscribers only.
The world’s about to lose a lot of Russian crude when European Union sanctions and a US-led price cap come into effect in 29 days. That may not be a bad thing.
How big might the loss be? Perhaps much less than many fear.