MacroVoices #365 Dr. Anas Alhajji: Energy Markets and Lessons Learned Since the Russian Invasion
Macro Voices
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The Share Revolution - The Most Important Event Out of This Conflict
Russia was supposed to increase its production capacity and move toward 11.5 million barrels a day of production, but it's unable to return to pre-COVID production. It is on the spare capacity of refiners around the world. Those with large spare capacity, they can import a lot of fresh and oil refine it and then send the products back to Europe. China and India literally pulled the rug from enderopic at this stage because of this. The shift from dependence on Russia to dependence on US LNG is the main outcome of this conflict.
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