Mon, Dec 12, 2022
The G7 nations, the European Union(EU) and Australia last week agreed to a $60 per barrel price cap on Russian seaborne crude oil, as part of its sanctions on Russia, owing to its invasion of Ukraine.
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Sat, Dec 03, 2022
US Treasury Secretary Janet Yellen has proposed the cap with other Group of 7 allies as a way to limit Russia's earnings while keeping Russian oil flowing to the global economy. The aim: hurt Moscow's finances while avoiding a sharp oil price spike if Russia's oil is suddenly taken off the global market.
Mon, Oct 10, 2016
Price of Indian crude oil basket touched $50.14 per barrel in October. The last time India paid over $50 per barrel for oil was in October 2015. The average crude oil prices in June this year was $46.96 per barrel with June 10 that came closest to the ‘$50’ mark at $ 49.35.
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