Saudi Arabia, UAE may pick up the slack of other OPEC+ members Iranian nuclear agreement and oil deal are unlikely this year the US may turn a further blind eye to Iranian sanctioned oil sales The OPEC+ agreement for higher quotas in July and August and continued release of oil from the US government’s Strategic Petroleum Reserve may compensate for the loss of Russian crude, the head of Vitol Asia said, as the European Union undertakes a phased ban on seaborne oil imports from Moscow. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Crude output of Russia is still level pegging with what it was and its products that’s been hit,” Mike Muller told the Gulf Intelligence daily energy podcast on June 5. “Products look to continue to be hit but harder and that production shortfall can be made up by OPEC+ accelerated increases plus of course […]