OPEC tells EU not possible to replace potential Russian oil supply loss By Reuters

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© Reuters. FILE PHOTO: The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen at OPEC’s headquarters in Vienna, Austria June 19, 2018. REUTERS/Leonhard Foeger/File Photo

LONDON (Reuters) – OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes.

OPEC Secretary General Mohammad Barkindo made the remarks in a meeting on Monday with EU officials, according to a copy of his speech seen by Reuters.

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