Difficult search for an alternative to Russian oil | Financial

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Amsterdam – The United States is boycotting all Russian oil as a sanction for the Ukraine war, Europe wants to get rid of it quickly. Countries are diligently looking for alternatives: where can they buy oil? That supply appears to be limited, the processing of that oil is also complex. Even if US sanctions on Iran and Venezuela are lifted, it will take months for additional oil to hit the market. Even at these high prices, few American producers dare to ‘fracking’ extra for shale oil. “Don’t expect a lot of extra oil and low petrol prices soon.”

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