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Russian Oil Price Cap Is Difficult To Implement: Oman Energy Minister

OIL

Oman’s Energy Minister Salim bin Nasser bin Said Al Aufi voiced scepticism towards the planned price cap on Russian crude oil imports by the G7 in an interview with CBNC.

  • “A price cap is not a market thing, it is unheard of, it is a very difficult thing to implement, and it goes against all the market norms”, the minister said.
  • “To put a price cap that means you are also accepting potentially a price flow, and nobody is talking about a price flow…but in all cases, a price cap is not something the world will be able to sustain for long, and it is very difficult to monitor”, he added.
  • When asked about current crude oil price levels he answered, “I see these prices probably staying like this a little bit until the end of winter…in Oman we are really not banking on these prices to continue to stay high for next year.”
Energy BulletsCommodities
Energy BulletsCommodities

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