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Russia Oil Price Cap Kicks In

TJ Liaw, Regional Oil and Gas Analyst, Maybank Investment Bank

07-Dec-22 07:30

Russia Oil Price Cap Kicks In

Oil prices had a good run in 2022 but it has given up all of its gains and is flat YTD at under US$80 per barrel. Meanwhile, the Group of Seven nations, Australia and the 27 European Union states imposed a US$60 per barrel price cap on Russian seaborne crude oil this week. Will this price cap work and how will Russia retaliate? Also, what does this mean for oil prices especially with China looking to re-open its borders in 2023? For insights and stock picks, we speak to TJ Liaw, Regional oil and gas analyst at Maybank Investment Bank.

Image credit: Shutterstock

Produced by: Chong Tjen San

Presented by: Shazana Mokhtar, Wong Shou Ning, Chong Tjen San

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Categories:  internationaleconomy

Tags:  russian crude oiloil price capg7australiachina

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