Washington-Sana
American experts have warned of the repercussions of the decision of the Group of Seven countries to impose a ceiling on the price of Russian oil, in an attempt to reduce Russia's revenues from energy exports.
The US bank JPMorgan warned that oil prices may rise to record levels if Russia decides to respond to Western efforts to put a ceiling on the price of Russian oil.
The US bank said in a report published today, “The price restrictions may push Russia to reduce its oil production by up to 5 million barrels per day without causing serious damage to its economy.”
The bank's analysts pointed out in the report that the worst-case scenario, which is a decrease in production by 5 million barrels per day, could push oil prices to $380 per barrel.
Earlier in the day, the finance ministers of the Group of Seven agreed to set a ceiling on the prices of oil and gas supplies from Russia.
Russian presidential spokesman Dmitry Peskov had warned of the repercussions, indicating that this step would lead to a significant destabilization of the market.
Yesterday, Russian Deputy Prime Minister Alexander Novak said that the OPEC Plus countries, as well as India and China, do not support the idea of imposing a ceiling on the price of oil from Russia, considering that the idea is absurd and may destroy the entire global oil market.
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