The Role of Turkey in the Oil Market in Four Charts: A Short Note

Turkey's Oil Imports from Russia are at Record High

In December 2022, we published a report entitled: Turkey to Become a Major Regional Energy Player. Turkey produces a tiny amount of oil and gas, but it is a major transit hub for oil and gas.  Looking back at the title of our report from December 2022 in light of what we see today, it was a prefect prediction.  Turkey is now a major regional energy player in oil and gas and significant supplier of oil and gas to Europe.

Today we post four charts with brief comments to show how Turkey has benefited from the G7/EU sanctions on Moscow.