Saudi Arabia is positioning itself to ship more oil to Europe as traditional buyers of Russian barrels look to diversify ahead of the looming sanctions in early December, and analysis suggests the trend could intensify in 2023.
Russian crude has historically accounted for about a fifth of Europe’s crude oil diet.
Ever since the EU imposed sanctions on Russian kegs, key consumers have been trying to move away from the medium-acid Russian Urals in favor of comparable qualities in the…
