Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Saudi Arabia has threatened to refuse oil supplies in the event of the introduction of a price ceiling


March, 15 2023
watermark Economic news

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said in an interview that Riyadh will refuse to supply oil to countries where restrictions on its price will be imposed.


«If a price limit is imposed on Saudi oil exports, we will not sell oil to any country that imposes a price limit on our supplies,» the minister said. At the same time, the minister clarified that in this case the country will reduce oil production. 


Salman also noted new levels of risk and uncertainty due to the American bill NOPEC (No Oil Producing and Exporting Cartels Act – The Law banning oil producing and Exporting Cartels). In his opinion, the anti-cartel project will worsen market volatility and have a negative impact on the oil industry. According to the bill, the United States will be able to sue OPEC member countries and their partners.


Recall that on December 5, 2022, the G7 countries, Australia and the European Union introduced a ceiling of prices for Russian oil in the amount of $ 60 per barrel, for diesel – at the level of $ 100 per barrel, for fuel oil – $ 45 per barrel. Yesterday, on March 14, the United States announced that it plans to jointly with the European Union to review the operation of the price ceiling mechanism for Russian petroleum products. Assuming that Brussels can lower the price limit from $60 to $55.


コメントする

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.