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JP Morgan sounds alarm over oil price prospects ...News
The bank’s analysts warn that a worst-case Russian cut will push crude to $380 per barrel Global oil prices could reach a “stratospheric” $380 per barrel if Western penalties prompt Russia to impose retaliatory output cuts, according to JPMorgan Chase analysts. “The most obvious and likely risk with a price cap is that Russia might chose not to participate and instead retaliate by reducing exports,” the analysts wrote in a note seen by Bloomberg. “It is likely that the government could retaliate by cutting output as a way to inflict pain on the West. The tightness of the global oil market is on Russia’s side.” In
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