1 month ago | By RT

The bloc agreed a price cap on Russian oil products earlier this week following heated debate
EU member states will inevitably be hit by fuel shortages and skyrocketing energy prices due to a new price cap on Russian oil that comes into force on February 5, the Hungarian Energy Ministry said on Saturday.
It added that Hungary would also be affected by the fresh anti-Russia penalties in the long term.
On Friday, officials in Brussels announced that the bloc would set the price of refined petroleum products imported from Russia at $100 per barrel for diesel and $45 per barrel for fuel oil...
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A top oil analyst explains Europe's new fuel sanctions on Russia and how that impacts global energy markets

1 month ago | By Business Insider

Good morning. I'm Phil Rosen. My favorite part of this job is getting the opportunity to speak to interesting, smart people - especially when I get to share their insights here in this newsletter. Do you have suggestions of who I could talk to next? Tweet me or email me. Today, I'm sharing my conversation with Matt Smith of commodities analytics firm, Kpler. If this was forwarded to you, sign up here. Download Insider's app here. The flow of crude oil is seen in a container while an oilfield worker works on a drilling rig at an oil well operated by Venezuela's state oil company PDVSA...
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Here's why Europe's new Russian fuel sanctions won't cripple Moscow

1 month ago | By Business Insider

Russian President Vladimir Putin. REUTERS/Alexei Druzhinin/RIA Novosti/Kremlin
On Sunday, the European Union imposes an import ban and price cap mechanism on Russian fuel products, such as diesel.
Kpler lead oil analyst Matt Smith said the sanctions likely won't change Russia's overall production volume, but could hit export revenues.
He noted that Africa has seen a recent uptick in imports of Russian oil products ahead of the new ban.
The European Union's next round of sanctions on Russia could hit Moscow's energy revenue, but they are unlikely to weigh on overall production, Matt Smith...
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