The Wall Street Journal writes that, Europe Representatives of Germany in the Union Russia a complete ban on oil snowThey will not leave, but Berlin must be given time to find an alternative supply channel.
He added that, Berlin hopes to find an alternative to Russian oil soon.
The oil behind the Iron Curtain
Ukraine Before the war, Russian oil accounted for one-third of Germany’s supply.
A month ago, Germany’s economy minister announced a 25 percent cut in Russian oil imports.
Expert at Again Capital LLC in New York Con Kilduf he said:
“It simply came to our notice then free The oil on the world market will rise in price, and the oil behind the Iron Curtain will fall in price.
The United States has reacted sharply to Moscow’s intervention in Ukraine over Russia’s energy exports and tries to use it as a weapon against its allies.
Dollar If oil prices rise, will oil become cheaper?
One of the documents reviewed by Reuters, the Russian Ministry of Economy according to Russia’s oil production could fall by 17 percent in 2022.
Reuters reports that, However, an agreement on a gradual increase in production is expected to remain in force at the May 5 meeting of the OPEC + group, which includes Russia.
Experts say that, The rise in the dollar is usually accompanied by a fall in oil prices.
China has tightened COVID-19 quarantine measures in Beijing and has begun mass testing of the city’s population of 22 million.
This is one of the factors that sharply reduces the demand for oil.