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Saudi Arabia doubles oil supplies to Europe

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Tuesday, 25 October, 2022, 21:36
Saudi Arabia doubles oil supplies to Europe

European countries are actively refusing to supply Russian oil, replacing it with Saudi.
Saudi Arabia has doubled its oil supplies to Europe against the backdrop of the European Union’s rejection of Russian oil. This was announced on Tuesday, October 25, by the Minister of Energy of Saudi Arabia, Prince Abdulaziz bin Salman during the Future Investment Initiative conference.
He said that Saudi Arabia is trying to ease the supply situation and is negotiating with a number of countries, in particular, Germany, Poland, the Czech Republic, Romania, Croatia.
According to the minister, these countries have resolved issues with the elimination of “bottlenecks” in the logistics of oil delivery, which made it possible to increase supplies to Europe from 490,000 barrels per day in September last year to 950,000 barrels per day in September 2022.
Recall that in September Russia’s revenues from oil exports fell by 17.3% or $3.2 billion compared to August. Revenue was $15.3 billion, the lowest for all of 2022.