Contextualising the European ban on Russian oil products: The MUFG Global Market

5 February marked another seismic change in global oil markets, as the European Union added another layer to its boycott of Russian petroleum products. These sanctions bring the total volumes that Europe needs to replace to approximately 2.4 million barrels per day – and could well require a back-to-the-drawing-board approach to global oil routes if Europe wishes to avoid an acute deficit.

Ehsan Khoman, Head of Commodities, ESG and Emerging Markets Research (EMEA), discusses whether Europe can weather the upcoming storm given challenging global supply dynamics.

Disclaimer: www.mufgresearch.com (PDF)