Oil price cap?

[DEFCON Warning System]

So what is this I'm hearing about oil price caps? Are the oil-consuming nations forming a buyer's block and setting a price they won't pay over?

If so, what contingency do they have if OPEC calls their bluff?

 

[Publius]

So what is this I'm hearing about oil price caps? Are the oil-consuming nations forming a buyer's block and setting a price they won't pay over?

If so, what contingency do they have if OPEC calls their bluff?

Well what else the idiots will say Sanctions of course.
Isn’t ironic that the government can prosecute certain industries for price fixing as a bad thing, which it can be.
But they have absolutely no problems price fixing themselves.

A fixed Minimum wages is price fixing is it not?
A artificial price cap is price fixing as well.

 

[DEFCON Warning System]

Well what else the idiots will say Sanctions of course.
Isn’t ironic that the government can prosecute certain industries for price fixing as a bad thing, which it can be.
But they have absolutely no problems price fixing themselves.

A fixed Minimum wages is price fixing is it not?
A artificial price cap is price fixing as well.

Unions are guilty of this as well.

 

[Irag8er]

https://twitter.com/x/status/1595025953859768321

#China has partially suspended purchases of crude oil from #Russia
in anticipation of the imposition of a price ceiling by Western countries, Bloomberg reports.

 

[Irag8er]

US & Allies Close to Agreement on Russian Oil Price Cap at $60-$70, Report Suggests

WASHINGTON (Sputnik) – The United States and its G7 and European allies are close to agreeing on a Russian oil price cap at $60-$70 per barrel later on Wednesday, American newspaper reported on Tuesday, citing sources in the know.

sputniknews.com

*Russian Affiliated Media*

US, Allies are Close to Agreement on Russian Oil Price Cap at $60-$70 on Wednesday, Report Suggests​

Some good info.

 

[Totality 🇺🇦 🇮🇱]

Treasury Department release guidelines for Russian oil transport ahead of planned price cap:​

Treasury Department release guidelines for Russian oil transport ahead of planned price cap

The Treasury Department released guidance on the safe transport of oil of Russian origin before the price gap on the product activates on Dec. 5.

www.cnbc.com

 

[Totality 🇺🇦 🇮🇱]

Russia's tanker fleet too small to bypass oil price cap:​

Explainer-Russia's tanker fleet too small to bypass oil price cap

Russia's oil tanker fleet is too small to fully circumvent a plan by the European Union, G7 countries and Australia to enforce a price cap on its maritime crude exports starting on Dec. 5, analysts and market watchers say. The amount Russia would be unable to export is expected to increase when...

uk.finance.yahoo.com