RE: Brent crude gently climbing18 Sep 2023 09:01
Genuine question…
As Mongolia is completely landlocked between Russia and China, the obvious places are oil could go are those two plus Mongolia themselves. Now BP has rightly commented that Russia don’t need oil and gas from anyone else, China have plenty of other sources and cheap Russian oil, and the Mongolian government (I assume) won’t want to be paying top market rates for what is their own oil.
So my question is, do any of the big oil boys in Mongolia manage to get oil to any other places in the world, and if so, at what cost? Otherwise, soaring oil price doesn’t seem to hugely matter.