Note: currently the Russian are ONLY sending 20% of what they have been sending to Europe via Nord 1, but they are getting circa 10 times more for it (until the last 2 days).
So who do you think is going to produce the extra 5 to 6 million barrels oil to replace Russia's oil?
The Saudis have already said they are maxed out. The Strategic Reserve is already low.
If they can't find a replacement, you will see oil prices rocketing up to 300 dollars plus per barrel.
And then the Russian will only need to sell a fraction of what they sold previously, through the Asian markets to earn more money - just like what is happening with EU gas now.
https://www.theice.com/products/27996665/Dutch-TTF-Gas-Futures/data?marketId=5429405&span=2Read the above IEA quote.
Lol
