Russian oil sales unexpectedly supported by the Middle East

CEO of Crystol Energy, Dr Carole Nakhle, is quoted in this Wall Street Journal article, commenting on the resilience of Russia’s oil sales which have been supported by new buyers, including the Middle East.

According to Dr Nakhle, the Saudis seem to be happy to import Russian oil, which is purchased at a discount, as this frees state giant Saudi Arabian Oil Co. to export its crude at market prices rather than burn it.

This turns out to be a win-win situation for the Russians and, even, for the Europeans and the US.

Related Analysis

Will Norway turn the energy crisis into opportunity?“, Dr Carole Nakhle, Aug 2022

Russia’s oil is in long-term decline – and the war has only added to the problem“, Dr Carole Nakhle, Jul 2022

Related Comments

Aramco Q2 earnings in line with industry trend“, Dr Carole Nakhle, Aug 2022

Record profits for oil-producers“, Dr Carole Nakhle, Aug 2022

Share this:

Recent Posts

SPE Tech Talks

Crystol Energy is proud to announce its collaboration with the Society of Petroleum Engineers (SPE). The energy transition and the transformation of our global and

Read More »