European oil markets after the Russian embargo (part 1)
Oil Markets
00:00
The Impact of Chemco Crude Oil on European Refiners
Russian euros has been a base little grade for European refiners. But in terms of quality, at least there's actually a ready-made replacement for euros out there. The only problem is there's not very much of it. So that replacement is a grade called chemco, a Kazakh export blend crude oil. It loads from the same terminal as Russian euros: Usluga and Novarat Sea. And so we have seen a lot more purchases of Russian crude versus Platt's Dubai over last few months.
Transcript
Play full episode
