19 Hrs
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المشهد العربي
Vitol: Middle Eastern Oil Keeps Market Stable
Vitol has confirmed that American and European oil flows, ranging between 10 and 14 million barrels per day—including crude oil and refined products—play a crucial role in maintaining energy market balance during the winter season, especially given the collapsing inventories in Western countries. The CEO pointed out that the continuation of these flows prevents markets from a potential catastrophic scenario that could push barrel prices to around $200 if supplies were to be cut off. He also warned that a shortage of refined products, resulting from refinery capacity gaps and infrastructure destruction in Russia, will lead to ongoing market shortages throughout the winter.
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