Europe is short of Russian oil, and we’ll see more U.S. crude there

HOUSTON, Feb 17 (Reuters) – U.S. crude oil exports that have been boosted by a trade flow reshuffle in the aftermath of Russia’s invasion of Ukraine will remain elevated this year as Europe and Asia search for supplies, company officials and analysts said. Western sanctions on Russia’s crude and oil products have opened the door to rising demand for U.S. crude grades as many European countries have become thirsty for alternative supplies. This year, Russia’s oil is expected to continue flowing to India and China, while heightened volumes of U.S. crude will go to European and Asian customers.”A key change in flow is U.S. crude going to Europe,” Colin Parfitt, Vice President of Midstream for Chevron Corp (CVX.N), told Reuters on the sidelines of the Argus Americas Crude Summit. “For this year, I’m pretty confident Europe is short of Russian oil, and we’ll see more U.S. crude there.” Exports of U.S. crude to Europe reached nearly 1.69 million barrels per day (bpd) in December, the highest in at least two years, according to data and analytics firm Kpler. It has since eased to about 1.42 million bpd in February. NN: the US is already releasing oil from the strategic reserve. Bottom line with China demand soaring and the stupid shit Russian sanctions… the leaders of the world are taking turns shooting each other in the dick and or tit….