Would A Price Cap On Russian Oil Help Curb Its Revenue?

Would A Price Cap On Russian Oil Help Curb Its Revenue?

The US is discussing with its European allies a price cap on Russian oil. The goal is to keep Russian oil flowing into international markets but curb budget revenues from it to discourage Russia from continuing the war in Ukraine. theoretically. The situation is not dissimilar to wanting to eat your cake and have it, … Read more

OPEC Warns The EU That Replacing Russian Oil Will Be “Nearly Impossible”

OPEC Warns The EU That Replacing Russian Oil Will Be “Nearly Impossible”

Replacing Russian crude oil lost by a possible ban from the EU would be nearly impossible, OPEC Secretary General Mohammad Barkindo said today in a speech at a high-level meeting between OPEC and the EU was seen by Reuters. OPEC wasn’t sugar-coating the harsh realities of the oil supply situation should the EU choose to … Read more

Is Today’s Energy Shortage Worse Than The 1970s Oil Crisis?

Is Today’s Energy Shortage Worse Than The 1970s Oil Crisis?

In 1973, after the Yom Kippur war between Israel and a coalition of Arab countries, Middle Eastern oil producers declared an embargo on oil exports to the United States as punishment for its support of Israel. What followed was an energy crisis of epic proportions. According to Daniel Yergin, the current energy crisis could be … Read more

Russian Oil Is Too Cheap To Resist For China And India

Russian Oil Is Too Cheap To Resist For China And India

Since Russia invaded Ukraine in late February, several countries have introduced sanctions on the country, restricting trade and stopping Russian energy imports. This has led to severe oil and gas shortages worldwide. But some governments are using this situation as an opportunity to establish a closer relationship with Russia while demand for its huge oil … Read more