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Oxford Institute expects increased disruptions in oil supplies from Russia

Oil&Gas Materials 25 April 2022 16:53 (UTC +04:00)
Oxford Institute expects increased disruptions in oil supplies from Russia
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, April 25. As the conflict between Russia and Ukraine continues, large disruptions in crude supplies from Russia are expected, Bassam Fattouh, Director of the Oxford Institute for Energy Studies said, Trend reports via the Institute.

Meanwhile, there is still no clear data on the disruptions of oil supplies from Russia. However, many Western companies have self-sanctioned and suspended the import of oil and oil products from this country, Fattouh said.

According to the director, in the first case, self-sanctioning measures and obstacles in redirecting Russian crude and petroleum products resulted in a loss of 1.1 million barrels of Russian crude per day by May 2022, whereas in the full curtailment case, the government’s sanctions extend to Russian oil exports and result in the loss of 4 million barrels of Russian oil production by May 2022.

Oxford Institute for Energy Studies assumes that Russia will continue to divert exports from European countries through Asia even if Western countries do fully embargo Russian oil exports. However, higher fuel prices and many other factors will complicate the ability to redirect Russian supplies.

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