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G7 Plans To Announce Oil Price Cap On 23 Nov

OIL

The G7 plans to announce the level at which they will set a price cap on Russian crude oil on Wednesday 23 Nov, according to people familiar with the matter.

  • If EU ambassadors agree with the G7 proposal, the cap will be announced Wednesday evening.
  • Allies had previously discussed setting the cap between $40-60/bl but it could also be above that, sources added.

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