#energy #oil #gasprices #Putin #yahoofinance
S&P Global Vice Chairman & “The New Map: Energy, Climate, and the Clash of Nations” author Daniel Yergin joins Yahoo Finance Live anchors Seana Smith and Dave Briggs to discuss the energy market and why Russia’s invasion of Ukraine has damaged the price of Russian oil exports.
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OPEC could cut 2 million bbls a day this weekend, then Russia could just sell their oil directly to China/India. So, really the price could skyrocket for everyone else, while China/India are loving the cheap Russian oil. Remember Russia is part of OPEC+, why would they screw themselves? It’s funny to see how stupid and arrogant the G7 really are with this concept.
Natural gas prices will increase?
Other suppliers can now reduce output so increase the price of their exports.
Excellent insights and thoughts on the global crude oil market
…and Europe has destroyed decades of cheap oil that helped its economy flourish.
China declined Russian Insurance on its tanker deliveries aka China has agreed to the price cap.
The price cap is going to work 😂.