Europe’s resolve to stop buying Russian crude may be starting to ebb.
The continent’s oil refineries took 1.84 million barrels a day of crude from Russia last week, according to tanker tracking data compiled by Bloomberg. That was the third consecutive weekly increase and took flows from Russia to Europe, including Turkey, to their highest in almost two months.
Partly it was about Litasco SA, the trading unit of Russia’s largest oil producer, taking barrels to the company’s refineries, and partly it was about Turkey purchasing more. Beyond that, though, steady ongoing declines appear to have slowed.
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