Forbesissa artikkeli jossa käsitellään lännen Venäjälle kohdistamia öljypakotteita ja miten ne on käytännössä toimineet.
Muutama klippi jutusta:
Russia's position in the global oil market remains largely undiminished heading into 2024 despite Western sanctions and a price cap of $60 per barrel, with a little help from China and India.
In the wake of Russia's invasion of Ukraine in February 2022, Western nations led by the U.S. imposed sanctions as well as a price cap of $60 per barrel on Moscow's sale of crude oil. However, the latest data and soundbites offered by officials suggest the move has proven to be little more than a temporary setback for Russia.
The country is currently pumping
around 10.6 million barrels per day (bpd) - a figure that includes restraint of about 500,000 bpd as part of its
OPEC+ production cuts. That's marginally higher than its
production level in January 2022, prior to the invasion of Ukraine.
The West's $60 per barrel price cap is also appearing farcical with both Indian and Chinese buyers paying significantly above the figure. On average, prices paid Russia's Urals crude have recently ranged between $4-$6 per barrel discounts to Brent prices currently shy of $80 (at close of trading in London on December 28, 2023).
In fact, sources in Indian trading circles suggest that at points of supply stress over the course of 2023, the discount even fell to as low as $3 per barrel from levels as high as $19 at the start of the year.
Western sanctions and a price cap of $60 per barrel have failed to dent Russia's position in the global oil market, thanks to China and India.
www.forbes.com
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