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Bangkok Post
Bangkok Post
Business

A year after the Ukraine invasion, oil market much changed

An oil tanker seen off shore in the Pacific Ocean along the Los Angeles area coastline in the Santa Monica Bay as seen from Palos Verdes Estates, California on March 6, 2023. (Photo: AFP)

HOUSTON: A year after Russia's invasion of Ukraine, the oil market has become more fragmented and uncertain, a dynamic expected to boost crude prices over the long term.

Condemnation of Russia by Western governments has essentially severed Europe from Russian supplies, leaving it more reliant on the Middle East and the United States.

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