Today, Russia is forced to send its shipments of fuel, most of which used to go to Europe, to more distant destinations, such as Brazil, where Russian fuel now constitutes 25 percent of its imports.
The Middle East has also become a destination for a large share of Russian diesel shipments, after it imported record quantities of it last March, accounting for about 10 percent of Russian exports.
In addition, Russian fuel found its way to many African countries, such as Morocco and Nigeria, at the expense of Asian fuel shipments.
On the other hand, Europe resorted to importing its needs of oil products from the countries of the Middle East and the United States, and to a lesser extent from Asia.
These changes in the oil products market come within the framework of the major shifts taking place in the global energy map as a result of the Ukrainian war and its repercussions, the most prominent of which was the shift in the Russian crude oil trade, most of which goes to China and India.
The shipping industry was also greatly affected by these changes. Now, a shipment of fuel from the United States to Europe takes about 18 days, while it used to take only four days to arrive from Russia.
This matter was also reflected in a significant increase in costs, as the costs of shipping oil products have increased by about 88 percent since February 5, the date of the start of the European embargo on Russian oil products.
Dr. Anas Al-Hajji, editorial advisor at the Energy Platform, said that the reason behind this change in the energy market map comes from two aspects. Suffocate yourself in the future.
He explained that Russia has had a desire since 2014 to divert a large part of energy exports to the East, and that it has held talks with China in this regard.
Al-Hajji stressed that the change in the oil trade market that occurred after the Ukrainian war, “cannot last long because it has proven to be costly and increases emissions very significantly, and is not efficient.”
He said that the new oil and gas trading system resulting from this change in the supply map faces risks such as volatile weather conditions and hurricanes that may lead to delays in the delivery of shipments, which increases the risk and price fluctuations that the world cannot bear for a long time.
Al-Hajji added that the current energy map, for the most part, will not be permanent, and that Europe will again depend on Russian gas.
He pointed out that part of this shift in the energy map is an “opportunistic” matter, such as the Indian case, which strongly increased its imports of Russian crude oil in order to benefit from its cheaper price.
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