Asia and Africa Oil Imports Jump to Record High on Cheap Russian Crude

Asia and Africa, which replaced Europe as the primary destinations of Russian crude oil, rushed last year to import cheaper crudes from Russia, boosting Asian and African overall crude oil imports to record highs, according to tanker-tracking data from Kpler cited by Reuters. After the EU and G7 embargoes and sanctions came into effect, Russia managed last year to divert most of its crude exports away from Europe and onto Asia and Africa.    While Russian crude exports to Europe crashed in 2023, Russia’s shipments to Asia surged…