The global oil market will still need Russian oil to flow even with the planned price cap, Fatih Birol, the Executive Director of the International Energy Agency (IEA), said on Tuesday. The price cap proposed and pushed by the G7 with the purpose of allowing Russian oil to continue flowing, but at lower than market prices, still has many details to be hashed out, Birol said at the Singapore International Energy Week, as carried by Reuters.
Last month, the G7 group of the most industrialized nations agreed to finalize and implement…IEA: The World Needs Russian Oil To Flow Regardless Of The Price Cap
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