"We could potentially see the loss of more than 7 million barrels per day of Russian oil and other liquids exports, resulting from current and future sanctions or other voluntary actions," said OPEC's Secretary-General Mohammad Barkindo, Reuters reported, citing a copy of his speech.

"Considering the current demand outlook, it would be nearly impossible to replace a loss in volumes of this magnitude," Barkindo told the EU, per Reuters.

OPEC has told the EU it's 'nearly impossible' to replace Russian oil


The fact that OPEC has to tell the EU the realities of what their sanctions have done to themselves speaks volumes about the competency of the EU politicians.

No, I don’t think these fancy lads gave much thought to the consequences of sanctioning a G20 commodities super power. One would think the first question asked would be if you need what they have more than they need what you have.

It would appear that Austrian chancellor Nehammer came up empty with his hoped for secret meeting with Putin. It’s widely rumored that the trip was done at the request of German chancellor Scholz. It’s looking like some leaders in Europe are getting nervous about what’s been done in the last few weeks of sanctions. Maybe destroying their economies for US neocons wasn’t such a good idea and they are looking to get off the crazy train? If so, I think it may be to late. Too much speed now to jump.

Last edited by chunkstyle; 04/13/22 04:01 AM.