Russian oil price cap, EU bans to stoke unprecedented uncertainty - IEA
15/11/2022 09:00
LONDON, Nov 15 (Reuters) - Looming European Union bans
on seaborne exports of Russian crude oil and products along with
a G7 price cap on those sales will create unprecedented
uncertainty for oil markets already beset by high prices and
deep economic challenges, the International Energy Agency said
on Tuesday.
"The approaching EU embargoes on Russian crude and oil
product imports and a ban on maritime services will add further
pressure on global oil balances, and, in particular, on already
exceptionally tight diesel markets," the Paris-based energy
watchdog said in its monthly oil report.
"A proposed oil price cap may help alleviate tensions, yet a
myriad of uncertainties and logistical challenges remain ... the
range of uncertainty has never been so large."
(Reporting by Noah Browning, Editing by Louise Heavens)
((mailto:noah.browning@thomsonreuters.com;))