The consequences of the war between Ukraine and Russia will be considerable for the energy and oil markets. Given the extent of damages produced by the war and the sanctions taken by NATO countries and their allies (Australia, Japan, South Korea), a ceasefire will not imply a return to normal. The Ukrainian oil industry is in shambles, and the future of Russian oil production is uncertain. If Russia can find substitute customers, the question of the sustainability of production levels achieved so far arises.
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