OPEC says EU will not be able to reimburse Russian oil supplies

According to OPEC Secretary General Barkindo, as a result of sanctions and other restrictions against RUSSIA, the world market may lose about 7 million barrels.Russian oil per day

Sanctions against Russia could trigger one of the worst oil supply disruptions in history, with lost volumes impossible to make up. This, according to REUTERS, at a meeting with representatives of the European Union, said OPEC Secretary General Mohammed Barkindo.

According to him, as a result of sanctions and other restrictions against Russia, the world market could lose about 7 million barrels. Russian oil and other liquid hydrocarbons per day.

“Given the current demand forecast, it would be nearly impossible to offset a volume loss of this magnitude,” Barkindo said.

FT reported no consensus in the EU on a ban on Russian oil Politics

Representatives of the European Union, in turn, said at the meeting that OPEC could increase production at the expense of its reserve capacity. However, Barkindo noted that "non-fundamental factors that are beyond the control of OPEC" have led to the current high volatility.

World oil prices are in the region of $100 per barrel against the backdrop of a number of European oil refiners refusing to supply raw materials from Russia. The European Union has repeatedly reported that they are discussing the imposition of an embargo on Russian energy carriers, however, the ban on the import of Russian oil was not included in the next package of sanctions on April 7.

In March, the United States imposed a ban on the import of oil and other energy products from Russia . The UK plans to announce it by the end of the year.

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Deputy HEAD of the Russian Security Council Dmitry Medvedev, commenting on the US embargo, accused them of trying to gain access to the European energy market under the pretext of fighting the "bloody regime" in Russia. According to him, before that, Washington was greatly hampered by the “green agenda” of the Europeans and the rhetoric associated with it, but now they have forgotten about it and how much environmental damage is caused by shale oil production in the United States. "It's amazing how, without a second's hesitation, the Europeans spit on all their 'unshakable values' of the last decades, all 'global challenges and threats' and rushed forward to their happiness - the new dirty energy," Medvedev said.

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