Oil price cap costing Russia an estimated €160 million per day
But Russia is still taking in €640 million a day from the sale of fossil fuels
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Author: Rashid Husain Syed
DOE expects further weakening in oil prices
DOE announcement to back away from any crude purchases for February is a warning sign
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Oil price forecast for 2023 all over the map
The price of oil could end up anywhere between US$70 to US$121
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Moscow launches opening salvo in defiance of oil price cap
Could reduce its daily oil output by as much as seven per cent over the next few weeks
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Western sanctions on Russian oil beginning to bite
But at least in the short term, Moscow may be able to ride off the challenge
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