No alternative to Russian oil

No alternative to Russian oil – OPEC

Tuesday, 12 April 2022newsdesk

Current and future sanctions on Russia could spawn one of the worst oil supply shocks in history, OPEC secretary general Mohammed Barkindo warned EU officials on Monday, adding that it would be impossible to replace the volumes lost in such an event.

New Delhi, 12 April 2022

As per news report of Rt.com, some seven million barrels of Russian crude per day are leaving the world market as a result of embargoes and other restrictions on Russian trading, he explained. The OPEC official also told the EU that the current volatility in the market is due to “non-fundamental factors” beyond OPEC’s control and that it is the responsibility of the EU to promote a “realistic” approach to energy transition.

Source - Rt.com