Europe Buys Abu Dhabi Crude To Replace Russian Barrels

Abu Dhabi crude is preparing to make its way to Europe for the first time in two years as the European Union seeks replacements for Russian oil, Reuters reports. In May 2020, a shipment of Abu Dhabi crude was loaded for Italy, and there have been so shipments since, according to Arab News, citing Refinitiv Eikon data. According to Reuters, citing shipping reports, France Total Energies has “provisionally chartered a tanker” to load Abu Dhabi crude in early May, bound for Europe. A total of 1 million barrels of Murban crude–one…