until refined petroleum products and/or crude oil stop going (directly) from Russia to European ports.
A bunch of route data show on the next-to-last page (page 7) with all-but-one the clean routes falling sharply on a weekly basis. All clean routes down on a monthly basis.
Meanwhile, there’s this from Singapore–
As far as we have seen the Western Cartel has dictated the price of Russian oil to be about $34 bbl.
That is putting a lot of pressure on OPEC and West Texas.
I have not dug deep recently but it would be interesting to know what the Western Cartel does next.
Russian oil is bringing down the price of oil. We are commanding that. We are using India and China. Both of which will never say no to cheaper oil. Russia has zero power of this. OPEC is losing its power as well.
That said we will be going into Memorial Day.