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US Set to Deliver Price Cap Guidance

OIL

The US government is set to issue guidance on the Russian oil price cap December 5 in the coming days according to Jim Mullinax, director of the Office of Sanctions Policy and Implementation.

  • He added that the government was in close touch with industry and international partners about the oil price cap and was approaching it with a "spirit of flexibility."
  • It is not clear if the upcoming guidance will give pricing levels for the cap. The coalition agreed this month a fixed rather than floating price for the cap.
  • "We've taken a lot of feedback from industry about how to implement this.... There's probably going to be some hiccups in the early frame," Mullinax said.
Energy BulletsCommodities
Energy BulletsCommodities

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