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Anas Alhajji: Russia profits as oil prices double during Hormuz crisis
Anas Alhajji, managing partner, energy economist, market analyst at Energy Outlook Advisors LLC, highlights that despite Russia's inability to increase production during the Hormuz crisis, the country still made significant profits as oil prices doubled.
This surge allowed Russia to earn billions from its oil exports.
Alhajji has previously pointed to other supply and demand drivers in the oil market. He noted that a sharp U.S. crude inventory draw lifted prices while unexpected gasoline and distillate builds caused demand concerns. In another report, he observed that rising Cushing crude inventories have coincided with persistently low WTI prices.
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