Tag: oil

Russia Will Not Go Along With Oil Price Cap, Kremlin Confirms

Spokesman Dmitry Peskov said that Moscow had prepared for this price cap—a controversial, and according to some experts, ineffectual mechanism that would ‘force’ Russia to sell its oil for less than current market value. 

OPEC+ Announces Cutting Oil Production by 2 Million Barrels a Day

In a move that left the White House “disappointed,” OPEC+ announced a cut of its oil production by 2 million barrels a day, which amounts to 2% of global oil production. The political and economical fallout may have far-reaching consequences.

Russian Oil Exports Keep Rising

While some media sources claim that Russian exports to Asian markets have fallen, others point in the opposite direction.