Russian oil exports to Europe are set to hit their lowest levels in two decades in July, with an output cut deal prompting other suppliers to fill the gap left by Moscow, data from traders and Refinitiv Eikon shows. Russia is set to slash seaborne Urals supplies to Europe to 3.8 million tonnes (900,000 barrels per day) next month, its lowest since 1999, when President Vladimir Putin first came to power as prime minister. “This is a shock for everyone ... Even the American oil is currently more profitable to refine ... Requests for oil supplies from the United States have increased,” a trading source said. Light oil ... (full story)