European crude supply shortages yet to materialise but tightening market looms

Dip in demand from China has taken the heat out of crude prices, but this could change

Going with the flow: a pumping station at the end of the Druzhba oil pipeline in the east German refinery in Schwedt.
Going with the flow: a pumping station at the end of the Druzhba oil pipeline in the east German refinery in Schwedt.Photo: AP/SCANPIX
Published 5 January 2023, 10:54Updated 6 January 2023, 10:09