OPEC Warns of Impossibility of Replacing Russian Oil

The EU and OPEC met to discuss increasing oil output by OPEC countries as EU countries try to wean themselves off of Russian oil.

OPEC’s Secretary-General Mohammad Barkindo warned the EU that it is “nearly impossible to replace Russian oil.”

Instead, Barkindo told EU officials that they need to be “realistic” about the situation.

The EU imports Russian oil and gas. The EU economy faces severe economic hardship if it cannot find cost effective replacements.