Western warning against repercussions of G7 agreement on capping the Russian oil prices ...Syria

Washington, SANA – US experts have warned on Friaday of the repercussions of the G7 decision to impose a cap on the price of Russian oil in an attempt to reduce Russia’s revenue from energy exports. The US bank of JPMorgan warned that oil prices may rise to record highs if Russia decides to respond to these Western attempts. “The Price ceilings may push Russia to reduce its oil production by up to 5 million barrels per day without causing serious damage to its economy.” the bank said in a report published Friday. The worst-case scenario, which is a decrease in production by 5 million barrels per day, could push oil prices to $380 per barrel”, the bank’s analysts noted in the report. Earlier

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