Today’s Take: Capping Russia’s Oil Revenues The US administration is pushing ahead with a plan to limit the Kremlin’s revenues from oil exports by imposing a price cap on Russia’s overseas shipments. The idea is far from garnering support from Moscow’s biggest customers in Asia, but it is focusing…

The international response to Russia’s invasion of Ukraine is seriously lacking. There is one glaring question that needs to be answered: Should the US, Europe and Asia stop buying Russian oil? Choking off Russian oil sales would put significant pressure on the Russian economy, and perhaps…

The OPEC+ group of oil producers celebrated their fifth birthday in early December. It’s been a turbulent time — more so than they could have imagined when they first came together to face the threat posed by the US shale boom back in 2016 — and the future doesn’t look much easier. On the verge…

You’d be forgiven for thinking that it’s smooth sailing ahead for the OPEC+ oil producer group. The 23 members concluded their meeting last week in less than an hour, agreeing to raise output again in October. There were no signs of the tensions that had marred earlier gatherings, just a quick…

US sanctions designed to push Iran’s oil exports to zero come into force at midnight, but the hard line initially signaled by President Donald Trump is softening as the deadline approaches. With countries that have already cut their purchases to zero now being granted waivers to buy Iran’s oil, the…

The first US sanctions have been reimposed on Iran with little sign of either side softening its position. Curbs on oil exports will follow in early November and the effect will be bigger and swifter than last time around. Oil forecasters don’t seem to have grasped that yet. There’s no doubt…