Oil prices could surge 240% to $380 a barrel if Russia slashes production in response to a price cap, JPMorgan has warned.
But JPMorgan's analysts said in a note this weekend that Russia — one of the world's key energy exporters — is in a relatively strong position thanks to the recent increase in oil and natural gas prices. But such a cut would be disastrous for global oil markets, given the supply and demand mismatch that has already sent the"The most extreme scenario of a 5 million barrel per day slash in production could drive oil prices to a stratospheric $380 a barrel," JPMorgan's analysts, led by Natasha Kaneva, said in the note.
"Russia's policymakers will likely address the challenge of the oil price cap from the position of strength," JPMorgan's analysts said."Russia had already showed its willingness to withhold supplies of natural gas to EU countries that refused to meet payment demands."
BISouthAfrica Fake news. That will only happen if the rest of the oil producing countries completely stop all their production
BISouthAfrica Then what about other countries supplying oil.
BISouthAfrica Thank you Russia, thank you Putin!
Oh wow man
BISouthAfrica Heaven help us
BISouthAfrica
BISouthAfrica Weak leaders are creating hard times in real time. How foolish you must be too think you can cap the price of a commodity you are in desperate need of and your enemy controls.
BISouthAfrica What a gigantic farce this entire exercise! Totally orchestrated by the 'powers that be'. How is it that a so-called 'super power' takes sooo long to invade a tiny neighbour! They can fool some people some of the time....
BISouthAfrica PS JP Morgan are part of THE PROBLEM!!
BISouthAfrica I was scammed through Bitcoin couple of months ago, I started hating Bitcoin until I was introduced to Allison_Grillo, and I gave Bitcoin trading another try, I successfully withdrew $35,000 after two weeks of trading, am so grateful Allison_Grillo thank you.
BISouthAfrica bullshit If this were the case, why are these same oil companies making RECORD PROFITS? Answer me that instead of destroying ANY ETHICS you may have had...
BISouthAfrica Min Pravin Gordhan said in May 2022: 'SA's oil supply does not come from Russia'
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