European companies are in a hurry to purchase Russian oil before its supplies are prohibited. This is evidenced by the increased volumes of oil sending from Russia to Europe, writes Bloomberg.
December 5, new restrictions prohibiting the purchase, import and movement of oil and some oil products from Russia to the European Union are entering into force. Therefore, many companies try to replenish stocks before this period.
Last week, the export of Russian tanker oil has reached the maximum since April. Over a week in mid -August, the total amount of Russian oil exports increased from 3.24 to 3.41 million barrels per day, the agency reports with reference to vessel tracking data.
Now almost 90% of Russian supplies to Europe are sent by sea. The export was increased to the Mediterranean and Black Sea Regions, as well as to Northern Europe.