Daily Energy Report
Turkey oil exports, Russian oil/gas exports, Urals & Dubai pricing, Germany’s gas reality, Israel awards licenses, Woodside-China LNG deal, US Houthi strikes, and more.
March 17, 2025
Chart of the Day
EOA: Turkey’s Exports of Petroleum Products are Rebounding
Summary
Figure (1) shows trends in Turkey's petroleum product exports by destination since the start of 2022. They increased steadily until the end of spring 2024, then declined to low levels in September before rebounding strongly. In February, they rose to near-record levels. While most exports go to Europe (even most of “others” in the chart are European countries), especially to Greece, Turkey also sends petroleum products to Lebanon, Cyprus, Egypt and Tunisia. Below is a discussion of the role Turkey plays in redistributing Russian oil.