The Russian Oil Price Cap Could Be Set Between $63 And $64 Per Barrel

Western governments are in the final stages of preparing for the implementation of a price cap on Russian oil exports, Reuters has reported, noting that the price range for the cap has yet to be set. According to one unnamed source who spoke to Reuters, the most likely range would be between $63 and $64 per barrel—the historical average price for crude. However, the report also included a warning from the World Bank that for the cap to be effective, developing economies need to be on board. At the same time, Russia has repeatedly stated it…

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