Tag Archives: oil rice war

My Al Jazeera: EU debates where to set Russian oil price cap. Over time this price “will be lowered as [new oil] comes online,” shrinking Russia’s market. “The Americans just don’t want a shock removal.”

English Audio above — Arabic video below

This interview (Arabic video; English audio above) was recorded the evening of 29nov22 as the EU struggled over how low to set the price cap.

Soon, it will be agreed, and will gradually become devastating for Russia.

As new non-Russian oil resources are developed (e.g., in Guyana, Suriname, UAE, Iraqi and other fields) and/or oil fields come back online (e.g., Venezuela, Libya, …), the EU and G7 will feel confident to further lower the price further and further below the price of Brent and WTI crude.

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