Estimated 1 mil b/d impact not intended sanctions consequence Indian refiners still have an appetite for Russian crude OPEC spare capacity could reach ‘alarming’ point Western economic and financial sanctions on Russia have reduced its crude supply by an estimated 1 million b/d, a “relative drop in the ocean compared to the intended impact,” the head of Vitol Asia said on May 8. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “If only one million b/d has gone missing so far, before the EU shuts the door on Russia crude if they indeed succeed in getting unanimity over there, that’s indeed not the intended consequence of sanctions,” Mike Muller told the Gulf Intelligence daily energy markets podcast. Russia is struggling to keep all of its oil wells running as the West targets Russia’s oil following the invasion of Ukraine, with crude output slumping by almost […]