The latest energy and raw materials news from regions and producers! | by World As One 4PEACE | Coins | March 2024

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Russia’s seaborne crude oil exports will increase in 2024

Russia’s seaborne crude oil exports have already increased in early 2024, hitting 3.7 million barrels per day (bpd) during the first week from March 4 to 11, according to a report by Oilprice.com. This is the highest export amount ever this year.

There may be a number of reasons for this increase in crude oil exports, both political and market factors, but it was noted that Kozmino, a Russian port in the Far East, accounted for a larger share of exports. This important port was shut down due to severe weather issues.

This event reminded me that I need to share it with everyone. What happened to the Caspian Pipeline Consortium (CPC)? And how Russia disrupted crude oil exports from the pipeline in 2022. I say this because it shows how much influence Russia will have on the global oil and gas market in the future.

If demand for Russian seaborne crude oil is already growing, there is likely to be more demand in the future. This is all happening against the backdrop of escalating Ukrainian drone attacks on major Russian oil refineries.

Russia is still causing problems with the European Union (EU) over energy policy. The EU has strengthened its sanctions regime targeting Russian oil and gas imports in a bid to halt Russia’s military capabilities during its invasion of Ukraine. There are ongoing concerns about how the EU will deal with Russia and its future energy challenges. Austria is a good example.

Austria plays an important role in the sanctions regime against Russia. Because through Austria OMV, a state-owned oil and gas companyIt relies on oil and gas supplies from Russia to supply its network of fuel retail stations across Central and Eastern Europe.

Moreover, Austrian government leaders have said they are interested in reducing energy ties with Russian companies, particularly Russia’s state-owned gas giant Gazprom. The latter will…