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Tuesday, February 7, 2023
HomeTrendingPrice of Russian Urals Oil Fell Below $45

Price of Russian Urals Oil Fell Below $45

Date: February 7, 2023 Time: 22:02:06

Bloomberg: The Price of Russian Urals Oil Fell Below $45

According to Bloomberg citing Argus pricing agency data, Urals oil dropped in price to $43.72 per barrel.

When Argus Investment Management first sent the shares down in order to limit losses, analysts saw that as a signal for investors to cash out regardless of price.

Due to sanctions and previous self-restraints by European refiners, not price caps.

The countries in the G7, the European Union, and Australia have previously agreed on a ceiling to prices for sea-supplied oil by Russia at $60 per barrel.

Instead of deciding on oil production based on the result of the first quarter after a price ceiling is introduced, Alexei Sazanov said that decisions should be made based on the results of the first quarter before it.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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