23 December 2022 | Other

Novak: Russia has prepared a response to the price ceiling in the form of a ban on oil supplies

In response to the West's decision to limit Russian oil supplies, energy exports to countries that would insist on respecting price caps will be banned. This was stated by Deputy Prime Minister of the Russian Federation Alexander Novak.

Novak noted that as a result of this decision, Russia is ready to cut oil production by 5-7% at the beginning of the coming year. He also added that despite the fact that this volume is insignificant, there are still risks.

On December 5, the EU, G7 and Australia set the prices for oil from Russia at $60 per barrel. On December 22, President Vladimir Putin said that he would announce a response to the oil price cap at the beginning of next week.

Company MarketCheese
Period: 01.05.2025 Expectation: 1000 pips
GBPUSD to test level of 1.34 again
25 April 2025 52
Brent sell
Period: 01.05.2025 Expectation: 660 pips
Trade uncertainty and excess OPEC+ supply are dragging down Brent
25 April 2025 39
Period: 29.04.2025 Expectation: 600 pips
USDCAD to head towards 1.39400 after rebounding from 1.38200
25 April 2025 32
Period: 02.05.2025 Expectation: 1669 pips
AUDCAD gains on potential easing of trade tensions between US and China
25 April 2025 35
Period: 30.04.2025 Expectation: 12000 pips
ETHUSD set to test upper boundary of downtrend channel
24 April 2025 83
Period: 25.04.2025 Expectation: 500 pips
AUDUSD to fall to 0.63000
24 April 2025 43
Go to forecasts