Oil is down 50%. That’s the reason Russian oil revenues are down 50%.
And that doesn’t include the 30% discount to China and India.
Oil is down 50%. That’s the reason Russian oil revenues are down 50%.
And that doesn’t include the 30% discount to China and India.==
There is NO such discount at all. Here: https://oilprice.com/Latest-Energy-News/World-News/Academics-Russia-Selling-Oil-Way-Over-Price-Cap.html
And oil revenue down because Russia diminish pumping for 0.5 mlns barrels a day. Russia simply decreased her IMPORT. SO the industry of Europe must now diminish her production.
It is a 2-way street.