RIYADH: Saudi Arabia and Iraq are helping Europe’s oil refiners with more crude in an effort to help the continent reduce its reliance on Russia, Bloomberg reported.
According to data compiled by Bloomberg, over 1 million barrels a day of crude has made its way during the first three weeks of July to Europe from the Middle East through a pipeline that crosses Egypt.
Volumes have almost doubled compared to a year earlier.
This comes as European companies are halting dealing with Moscow, following Russia’s invasion of Ukraine.
