Crude oil won’t break pacts with Russia, but fuel faces the challenge: The Persian Gulf’s oil giants have invested billions in new mega-refining facilities and are now beginning to reap the rewards
by Sissi Bellomo
There is an OPEC with two souls: that of the countries that can’t offer more oil, and those that don’t want to, but on the other hand are accelerating the production of fuel. The pacts with Russia, a key partner in the expanded OPEC+ coalition, will not be formally revealed. In fact, market share is being stolen in Moscow, with increasing volumes – especially diesel – now traveling to Europe from the Middle East on a daily basis.
The protagonists of this attack are the forces…