Replacing Russian Oil

NYT synopsis

Replacing Russian oil won’t be easy, as the U.S. and other buyers chase limited supplies. Saudi Arabia, the United Arab Emirates and Kuwait could add 2.5 million barrels, but all are all members of OPEC Plus, an alliance of oil-producing nations that includes Russia. Venezuela and Iran could contribute about 1.5 million barrels a day, but that would require lifting American sanctions. U.S. producers could also ramp up production, but it would take investment and time.

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