MNI: EUROZONE NOVEMBER CONSTRUCTION PMI 42.7 OCT 43.0

MNI BRIEF: BOJ To Adjust Easy Policy Cautiously - Nakamura

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1879 Thurs; -1.82% Y/Y

MNI BRIEF: Fed's Daly Says No 'Urgency' To Lower Rates

MNI BRIEF: Powell Says US Is 'Far' From Fiscal Dominance

MNI: FRANCE OCT INDUSTRIAL PRODUCTION -0.1% M/M, -0.6% Y/Y

MNI: GERMANY OCT FACTORY ORDERS -1.5% M/M

MNI: SWEDEN FLASH NOV CPIF +1.9% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Russian Oil Price Cap Requires More Support

OIL

G7 countries are trying to drum up further support from other countries for a Russian oil price cap before they enter more advanced discussions surrounding their specifics according to EU and US officials.

  • The plan is to try and keep Russian flows on the market to avoid a supply squeeze but limit the amount of revenue the Kremlin can generate from them.
  • “The coalition has to be broader” according to an EU official part of the negotiations.
  • The deal lacks much firepower without convincing at least one of China, India or Turkey to join – all of which have ramped up their sales of Russian crude since the invasion began.
  • G-20 nations (19 minus Russia) meet in Bali in mid-November. They are expected to state their intention to participate in the deal by that point.
  • Along with requiring more support, the actual price the cap is set at is yet to be agreed.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.