Comment by
mrbb on Apr 24, 2022 11:23pm
i guess putin had took your advice and hence keep pumping oil, sell it at deep discount to keep the oil wells running rather than shutter wells.
Comment by
mrbb on Apr 25, 2022 12:28am
The article was reporting what is and had happened, it (nor I) didn't says it will continue unabated. Russia will reluctantly have to shut in production but likely gradually, keeping their best oil field running as they is always a black market for cheap oil. World energy supply chain will re-configure.
Comment by
mrbb on Apr 25, 2022 12:38am
it explain why oil is still ~ $105, under the old high of $147/bo. If and when EU truly shut off russian oil, oil should be $185. Maybe you trust yahoo news better. Oil could jump to $185 a barrel if the EU agrees to an immediate ban of Russian crude exports, says JPMorgan (yahoo.com)