analysesChallenge to Moscow on the European market
On crude oil, the pacts with Russia are not betrayed, but on the fuel front the challenge is open: the oil giants of the Persian Gulf have invested billions in new mega refining plants and are now starting to reap the benefits
by Sissi Bellomo
26 maggio 2022
There is an OPEC with two souls: that of countries that are unable to offer more oil and that of those who do not want to, but on the other hand accelerates the production of fuels. The pacts with Russia, a key partner in the expanded OPEC + coalition, are not formally betrayed. In fact, however, market shares are stolen in Moscow, with increasing volumes – especially diesel – which now travel daily from the Middle East to Europe.
