• Home
  • Ukraine War
  • Economy
  • State of Affair
  • Opinion
  • Video

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Upbeat Economic Outlook issued for China

March 29, 2023

US Becoming a ‘Banana Republic’ – Trump

March 28, 2023

China and Russia Top List of States With Largest Trade Surplus

March 28, 2023
Facebook Twitter Instagram
Trending
  • Upbeat Economic Outlook issued for China
  • US Becoming a ‘Banana Republic’ – Trump
  • China and Russia Top List of States With Largest Trade Surplus
  • China Could be ‘Safe Haven’ Amid Banking Turmoil – Citi
  • The First Australian Soldier has Been Charged Over Afghanistan War Crimes, But those Ultimately Responsible Remain in Command
  • US Democracy ‘a Facade’ – Russian Security Chief
  • How Joe Biden and the CIA Orchestrated the 2014 “Revolution” to Instigate War Between NATO and Russia in Ukraine
  • Washington Seeks Banking Crisis Advice from Warren Buffet – Bloomberg
Wednesday, March 29
Facebook Twitter Instagram
RT NewsRT News
  • Home
  • Ukraine War
  • Economy
  • State of Affair
  • Opinion
  • Video
RT NewsRT News
Home » Russian Oil Revenues Much Higher than Reported – Goldman Sachs
State Of Affairs

Russian Oil Revenues Much Higher than Reported – Goldman Sachs

adminBy adminFebruary 22, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Share
Facebook Twitter LinkedIn WhatsApp Pinterest Email

Russian Oil Revenues Much Higher than Reported – Goldman Sachs

By RT News

Buyers paid more than the quoted price, the investment bank says.

Importers of Russian oil have increasingly paid more for the commodity than quoted prices to buffer the impact of Western sanctions, Oil Price reported, citing a note by Goldman Sachs published earlier this month.

The US investment bank revealed that the spread between the average effective price paid and the quoted crude price has widened since last March, and reached around $25 per barrel in December.

“We argue that the resilience in production so far may partly reflect that the effective price paid for Russian oil appears significantly greater than the quoted price assessments,” Goldman Sachs said.

Earlier in February, Russia announced it would voluntarily reduce oil production in March by 500,000 barrels per day as it halts sales to buyers that comply with a Western-imposed price ceiling.

The EU and the G7 have introduced price caps on Russian oil and petroleum products, setting a limit of $100 per barrel for diesel, jet fuel, and gasoline, and a $45-per-barrel ceiling for other oil products that trade below the market price. Fuel exports priced over these limits are barred from insurance and shipping services by companies in Western countries. The cap on refined products follows a previously introduced $60-per-barrel price limit on Russian crude oil.

Russia has repeatedly warned of potential output cuts since the EU and G7 began discussing caps on the price of Russian exports. The announcement sparked concern that the production cut, which is the equivalent of about 5% of January’s output, may trigger volatility on the oil market.

The developments come as Goldman Sachs predicts a “new supercycle” for energy assets this year, with oil prices forecast to rise to $100 per barrel by December.

Global crude prices jumped on Monday, with the Brent benchmark gaining 1.3% to trade at over $84 a barrel.

Original Source: https://www.rt.com/business/571774-russian-oil-revenues-higher/

Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
admin
  • Website

Related Posts

Upbeat Economic Outlook issued for China

March 29, 2023

US Becoming a ‘Banana Republic’ – Trump

March 28, 2023

China and Russia Top List of States With Largest Trade Surplus

March 28, 2023

China Could be ‘Safe Haven’ Amid Banking Turmoil – Citi

March 28, 2023

The First Australian Soldier has Been Charged Over Afghanistan War Crimes, But those Ultimately Responsible Remain in Command

March 28, 2023

US Democracy ‘a Facade’ – Russian Security Chief

March 28, 2023
Add A Comment

Leave A Reply Cancel Reply

Don't Miss

Upbeat Economic Outlook issued for China

By adminMarch 29, 2023

Upbeat Economic Outlook issued for China By RT News S&P Global Ratings forecasts 5.5% GDP…

US Becoming a ‘Banana Republic’ – Trump

March 28, 2023

China and Russia Top List of States With Largest Trade Surplus

March 28, 2023

China Could be ‘Safe Haven’ Amid Banking Turmoil – Citi

March 28, 2023
Our Picks

Upbeat Economic Outlook issued for China

March 29, 2023

US Becoming a ‘Banana Republic’ – Trump

March 28, 2023

China and Russia Top List of States With Largest Trade Surplus

March 28, 2023

China Could be ‘Safe Haven’ Amid Banking Turmoil – Citi

March 28, 2023

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

About Us
About Us

Your source for the lifestyle news. This demo is crafted specifically to exhibit the use of the theme as a lifestyle site. Visit our main page for more demos.

We're accepting new partnerships right now.

Email Us: info@example.com
Contact: +1-320-0123-451

Our Picks

Nuclear Family: How Ukraine Helped North Korea Develop the World’s Deadliest Weapons

July 2, 2022

Russia Announces $14.5bn Domestic Airline Boost

June 30, 2022

Ukrainian Mayor Blames Shopping Mall Management For Deaths

June 30, 2022

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Instagram
  • Home
  • Ukraine War
  • Economy
  • State of Affair
  • Opinion
  • Video
© 2023 Russia-Ukraine.

Type above and press Enter to search. Press Esc to cancel.