News Snapshot:
Russia has rerouted its oil exports away from Europe towards Asia. Suriyapong Thongsawang/Getty Images Russian oil production has remained much stronger than expected since the invasion of Ukraine, the IEA said Thursday. Its average output in July was down around 200,000 barrels a day from the first quarter, and was higher than for all 2021. Russia has successfully rerouted its oil exports away from Europe toward Asian countries such as India and China. Russia is producing far more oil than expected this year as it reroutes supplies towards Asia and domestic demand grows, according to the International Energy Agency. The...
