How a Cap on Russian Oil Prices Could Affect U.S. Consumers

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U.S. gas prices have been up and down throughout the year and now more uncertainty is on the horizon as a European Union embargo on Russian oil imports kicks in along with a price cap on crude out of Russia WSJWhatsNow

 

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freya_furia I don’t understand why USA/Canada are not just producing their own oil, both have huge oil fields. They could also supply Europe and have a huge increase in revenue, using strategic reserves that are kept for WAR is beyond stupid. Can anyone explain it to me?

Well gas prices in CA have remained steady at around the $5 mark only recently dropped below. Lots ov Chevron stations near me. All the highest prices. Disgusting

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G7 price cap on Russian oil kicks in, Russia will only sell at market priceThe G7 price cap on Russian seaborne oil came into force as the West tries to limit Moscow's ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production Clown7 Which is even better دخل سقف أسعار مجموعة_السبع على النفط_الروسي عند 60 دولارا للبرميل المنقول بحراً حيز التنفيذ في فيما يحاول الغرب الحد من قدرة موسكو على تمويل حربها في أوكرانيا ، لكن روسيا قالت إنها لن تلتزم بالإجراء حتى لو اضطرت إلى خفض الإنتاج.
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Russia rejects $60-a-barrel cap on oil, threatens cutoff to European countriesRussian authorities rejected a price cap on the country's oil set by Ukraine's Western supporters and threatened Saturday to stop supplying the nations that endorsed it. Pretty normal for Central Planners to set price caps. It’s what they do
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Oil prices climbs after OPEC+ keeps output cut targets, China eases COVID curbsOil prices jumped 2% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a price cap kicking in on Russian crude.
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Oil prices climb after OPEC+ keeps output cut targets, China eases COVID curbsOil prices rose as much as 2% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a price cap kicking in on Russian crude.
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