Goldman’s Currie: Oil Market Will Continue to Tighten The European market for Russia’s seaborne crude is drying up as sanctions draw nearer, and the country’s Asian customers aren’t picking up the slack like they once were. With just over two months until a European Union ban on seaborne crude imports comes into effect, shipments to the bloc plus the UK are down by about 60% from where they were before Moscow’s troops invaded Ukraine. Customers in northern Europe in particular have slashed their purchases, which are now running below 200,000 barrels a day, down by 1 million from the levels seen at the start of the year. Meanwhile the diversion of crude flows from Europe to Asia appears to have reached a plateau. Flows to the big three buyers of Russian barrels — China, India and Turkey — which initially stepped in to fill the gap after European buyers […]