I thought that prices of Russian crude were restricted to a low level. Are they somehow “cheating”?
In breaking economic news;
Outside third parties and customers in general do not set “price caps”.
For example, if I decided to restrict the price of the 2023 F-150 King Ranch pickup to 20,000 dollars, Ford would laugh at me, refuse to sell me one, and sell them to people who were still willing to ignore my price cap.
What makes you think Russians would cheat? Lol
The Saudis did not make cuts in production after they announced they would. Typical.