Ann: Canadian Operation Update - Successful Completion of Well, page-39

Companies that want oil will still buy oil, but it may be from a different source.
Oil supply routes get re-routed because of sanctions etc, means non optimal(cheap) prices are obtained,
consequently prices rise to factor in the extra cost of transport around non-optimal routes.
Resulting in higher transport cost ,that are passed on the customer or absorbed.

That a theory.

Its bit like a electrical circuit re-balancing itself if a low resistance wire is replaced with a resistor.
The current will reduce or delivered charge , until a higher voltage is applied to drive the same charge to its end destination. The voltage is equivalent to oil price, and the charge amount of oil delivered.

Thats a theory, but their are lots of parallels from hydrodynamics, electrical supply , capital/goods flows.