Salem Radio Network News Sunday, December 4, 2022

Business

APPEC: Vitol CEO says Russian fuel to come to Asia and Mideast

(Reuters) – Russian fuel is expected to come to Asia and the Middle East and fuels produced there are expected to flow to the West, said Russell Hardy, chief executive officer of Vitol, at the 38th Annual Asia Pacific Petroleum Conference (APPEC) 2022.

More than a million barrels per day of U.S. crude is expected to go to Europe to fill the gap in Russian supplies, he said.

(Reporting by Chen Aizhu and Jeslyn Lerh; Editing by Jacqueline Wong)

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