U.S. OFFICIALS TO DISCUSS PRICE CAP ON RUSSIAN OIL WITH INDIA, CHINA, CONSUMING COUNTRIES IN AFRICA AND LATIN AMERICA - U.S. OFFICIAL
Oil at session highs on this news.
What do you think will happen to the price of crude if Russia refuses to comply and 15% of oil’s supply goes offline overnight? Price caps don’t work on inelastic goods that don’t have substitutes… please enlighten me if I’m wrong.
Oil at session highs on this news.
What do you think will happen to the price of crude if Russia refuses to comply and 15% of oil’s supply goes offline overnight? Price caps don’t work on inelastic goods that don’t have substitutes… please enlighten me if I’m wrong.