IEF: EU Embargo Could Send Oil Prices “Well Above $100” ...Middle East

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IEF: EU Embargo Could Send Oil Prices “Well Above $100”
source : OILPRICE ( Middle East ) () 36
Brent crude prices could easily break above $100 per barrel again if losses of supply from Russia are close to 3 million barrels per day (bpd) when the EU embargo on Russian crude imports by sea enters into force next month, the Riyadh-based International Energy Forum (IEF) thinks. The IEF and many consuming countries, not only the United States, are concerned about what will happen to the oil market when the EU sanctions kick in, Joseph McMonigle, secretary general of the IEF, told Bloomberg TV in an interview on the sidelines of the ADIPEC energy…

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