How the oil caps are affecting Russia’s economy The West started imposing oil sanctions on Russia late last year to weaken Russia's economy and military abilities in Ukraine.
Complications with oil tankers backed up in the Black Sea If ships continue to be stuck, global supply would get all messed up and energy prices could go crazy.
G7 agrees on a Russian oil price cap at US$60 per barrel, but Russia says it won’t accept it The US has already banned Russian oil, and the UK plans be rid of it by the end of the year.
What’s going on with the Russian oil price cap? Russia’s war in Ukraine continues, oil is caught in the middle.
China pledges to stick with its strict zero-COVID policy Since the pandemic started, China has had some of the strictest COVID restrictions in the world – also known as its zero-COVID stance.
OPEC+ is majorly cutting oil output With the Russian war in Ukraine, energy prices are all out of wack globally. In the US, there are fears that higher prices at the pump will affect the upcoming midterm elections, and Europe is worried about whether or not it will have enough energy to get through the winter.
From developing countries snapping up Russian oil to “idiots" surfing the Venice Grand Canal – Here’s your August 18 news briefing To start off, we’re looking into: Myanmar buys Russian oil More and more developed countries are limiting their demand for Russian oil as Russia continues its invasion of Ukraine. Notably, the US banned crude oil imports from Russia back in March. An EU embargo on Russian oil is also