https://www.bbc.com/news/business-63855030
Russia was peacefully trading its discounted oil at $64pb and as usual the US and it’s vassals decided to play God and impose a price cap of $60. Shame no let BBC put am for top, they hid it in a corner lol.

Results:
1)OPEC+ has decided to call their bluff and will not increase production.
2) Global prices are on the rise in less than 24hrs
3) The discounted Russian oil will trade even above $64 because discounts is reflected on market prices.( if you were trading 30% discount at $64pb while it sold at $90 globally, it will become $70pb when it hits $100 and upwards the hike, upwards the trajectory).
4) More money for Russia, the very same thing they bragged they would diminish.
5) Europe will pay more for oil on the international market than they were already paying before Monday 5th.
6) While India and China will continue to get discounted oil at 30%, European companies will continue to get squeezed and uncompetitive.

Biden fails to learn, you can’t sanction or isolate a big country.
Biden’s price cap goals; (1)It will force global prices down. (2) It will reduce Putin’s income and ability to fund the war.
I guess he just achieved the opposite.

Ps: Americans just betrayed thesame EU and it’s barely daybreak. They will subsidize their energy with $400b for production base and make their companies competitive, the EU is crying wolf, they have over taxed their people and can’t raise the money to also push for such. Effect is that the American companies will out compete their European counterparts globally and the EU was advised by the same US to ditched cheap Russian gas which made their economy great for expensive freedom molecules.

https://amp.dw.com/en/eu-chief-says-bloc-must-act-over-us-subsidies-plan/a-63978626

Winter is here. Many European countries economy will collapse leading to mass migration of Europeans.
Africa should benefit immensely from this turn of events.

I don't no how you will want to put a price on someone else's goods. Like na me get the product and na the price wey I wan sell am I go sell am. It's either you buy or go elsewhere. Either way it doesn't stop Russia from selling. They didn't carefully think this through at all.


Or probably they are doing it on purpose to cripple the EU countries and make them dependent on USA LNG, but even the USA LNG is depleting since they stopped drilling for some time. But the Europeans are the stupid ones here, you'll rather suffer your own people to spite Russia and make America retain her hegemony, American oil is much more expensive and the daft EU leaders don't mind buying it at very high prices. Very soon the union NATO will collapse as we can see , their interest is no longer aligning. The cold war split USSR , this particular one will split NATO and as for America the multipolar world order is here and nothing they can do to stop it except that are ready to destroy Russia and themselves with Nukes.

Reuters
Russia's ESPO oil blend from the Far Eastern port of Kozmino was selling for around $79 a barrel in Asian markets on Monday - almost a third higher than the price cap imposed on Russian oil by the G7 and European Union - according to Refinitiv data and estimates from industry sources.

Russian oil selling at $79/barrel in Asia on Monday, well above price cap
reuters.com

Kingsnairaland:
Reuters
Russia's ESPO oil blend from the Far Eastern port of Kozmino was selling for around $79 a barrel in Asian markets on Monday - almost a third higher than the price cap imposed on Russian oil by the G7 and European Union - according to Refinitiv data and estimates from industry sources.

Russian oil selling at $79/barrel in Asia on Monday, well above price cap
reuters.com

Very shameful for Biden and his slaves. This one was too quick to backfire. And I wonder who their economic advisers are? How do you decide for someone how much he will sell his own goods, which are imperishable in nature and in demand globally. How do a group of seven rascals and the 400m people in EU think they can decide for 8billion people?

Well, I will enforce cap price on BMW X6, I will not paid more than 1M Naira
Hungary already remove herself from the nonsense cap matter, as Hungarians are more important than Ukraine wahala
Is that not cap?

THE SAME BBC THAT THEY CLAIMED "ARE THE CHAMPIONS OF FAKE NEWS ", IS STILL THE CHANNEL THEY ARE MASTURBATING OF THEIR NEWS.

WHEN WILL I SEE A PUTARD WITH FUNCTIONING BRAIN ?

Fake news, I trade the forex market and oil fell like water yesterday.

Akuruoulo:
THE SAME BBC THAT THEY CLAIMED "ARE THE CHAMPIONS OF FAKE NEWS ", IS STILL THE CHANNEL THEY ARE MASTURBATING OF THEIR NEWS.

WHEN WILL I SEE A PUTARD WITH FUNCTIONING BRAIN ?

See wailing ooo!!! We will bring sources from western media like Reuters, BBC and co instead of Rt, to make you cry and stop you from crying Russian propaganda!

https://www.aljazeera.com/economy/2022/12/5/india-signals-it-will-continue-to-buy-oil-from-russia

cl0r0x:
Fake news, I trade the forex market and oil fell like water yesterday.

Reduce the wailing. The google search page you screenshot, you should have been bold enough to show the entire outlook.
Below is a screenshot from that very Reuters page showing the price Cap was not a success because China and India did not follow suit. Infact, no one followed suit. The world have moved on from 7 rascals.
https://www.cnbc.com/amp/2022/12/05/oil-prices-rise-as-much-as-2percent-on-signs-of-china-covid-easing.html

Russia as well would be cutting production as of Monday, prices definitely would spike up, I have been saying it all weekend and it’s more revenue for them, Europe and Africa would suffer, especially Africa, since we import energy and other commodities from China and Europe

TollMind:
Russia as well would be cutting production as of Monday, prices definitely would spike up, I have been saying it all weekend and it’s more revenue for them, Europe and Africa would suffer, especially Africa, since we import energy and other commodities from China and Europe

Europe has safety net. Africa will suffer so much from the fall out, and we have the corrupt leaders to thank for that.

saxywale2:

Europe has safety net. Africa will suffer so much from the fall out, and we have the corrupt leaders to thank for that.

Do we have leaders in Africa, we have looters.
We have everything in Africa but we can't develop it.
The only Africa countries doing good right now, are the Arab Africans.

Nigeria have massive oil and gas yet no electricity

redseason:
Reduce the wailing. The google search page you screenshot, you should have been bold enough to show the entire outlook.
Below is a screenshot from that very Reuters page showing the price Cap was not a success because China and India did not follow suit. Infact, no one followed suit. The world have moved on from 7 rascals.
https://www.cnbc.com/amp/2022/12/05/oil-prices-rise-as-much-as-2percent-on-signs-of-china-covid-easing.html

You are the wailer here. Do you know what this is?

IS this how something rise in your dictionary? stop reading old news and follow the live trend.

cl0r0x:


You are the wailer here. Do you know what this is?

IS this how something rise in your dictionary? stop reading old news and follow the live trend.

Please stop disgracing yourself and quoting me. You were thoroughly disproved with hard facts, links and shots, so you have nothing else to say. You ran to claim prices fell like water to borrow your language when indeed it actually rose. Claiming to trade forex. Maybe you meant to say you trade in palm kernel oil(ori-aki). Your brain dead graph has more validity than the BBC, Washington post, and all news media who disagrees vehemently? Even Reuters claimed the cap has been a failure due to non participation of India and China. So what’s your point? It has only just gone back to pre cap levels few hours ago. But with OPEC+ cuts looming, we know what to expect!