Oil is in freefallnow $71.58 a barrel another big build coming next week. demand has fallen of a cliff
the G7 commits to more russian sanctions, the squeaze is on russia will have to increase oil production to the maximum.
- “We will starve Russia of G-7 technology, industrial equipment and services that support its war machine,” the G-7 said in a statement released late Friday.
- The G-7 added, “We will continue our joint effort to support Ukraine’s repair of its critical infrastructure, recovery and reconstruction.”
- The United Kingdom separately imposed further sanctions on Russia’s diamonds, an industry worth $4 billion in exports in 2021.