Best Of: How Dubai is reshaping the global oil trade
Behind the Money
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Shifting Tides: The New Era of Oil Trade
This chapter examines the transformative changes in global oil trading in the wake of Russia's invasion of Ukraine, focusing on Western sanctions and the emergence of new trading hubs, notably the UAE. It highlights the complexities introduced by lesser-known companies taking center stage in the marketplace, alongside concerns related to logistical challenges and regulatory transparency. The narrative emphasizes the shifting dynamics of energy flows as traditional trading centers evolve, with Dubai solidifying its role as a critical player in the oil market.
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