The clock is ticking on a Russian oil price cap

Financial Times LogoFinancial Times1w ago

The clock is ticking on a Russian oil price cap - Financial Times

Quick Summary:

Vitol, the world’s largest independent oil trader, is predicting that while Russia has bought up some old tankers to help get its oil to market independently, volumes could still fall by about 1mn barrels a day early in the new year.

Tankers that carry Russian oil outside of the price cap may be banned for only 90 days from accessing western maritime services, rather than indefinitely.

Others are more cautious, worrying that setting the level too low could lead Russia to restrict output temporarily to cause chaos in the oil market, with Moscow having already weaponised gas supplies against Europe.

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Article Details

Author / Journalist: David Sheppard

Category: MarketsFinanceInvesting



Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-24 @ 12:00:56 (1 weeks ago)

News Timezone: GMT -5:00

Ranking: #48 (out of 2518 stories this day)

News Source URL:

Language: English

Article Length: 1212 words

Reading Time: 7 minutes read

Sentences: 52 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 1908919

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Year Established: 1888

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News Last Updated: 9 hours ago

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