{"id":534600,"date":"2022-11-05T12:00:03","date_gmt":"2022-11-05T06:30:03","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=534600"},"modified":"2022-11-05T12:00:03","modified_gmt":"2022-11-05T06:30:03","slug":"g7-nations-for-fixed-price-cap-on-russian-oil","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/g7-nations-for-fixed-price-cap-on-russian-oil\/","title":{"rendered":"G7 nations for fixed price cap on Russian oil"},"content":{"rendered":"<p>The Group of Seven (G-7) rich nations and Australia have agreed to set a fixed price when they finalise a price cap on Russian oil later this month, rather than adopting a floating rate, sources said on Thursday.<\/p>\n<p>US officials and G7 countries have been in intense negotiations in recent weeks over the unprecedented plan to put a price cap on sea-borne oil shipments, which is scheduled to take effect on December 5 \u2014 to ensure EU and US sanctions aimed at limiting Moscow\u2019s ability to fund its invasion of Ukraine do not throttle the global oil market.<\/p>\n<p>\u201cWhile it\u2019s not yet clear at what level the cap will be set, US officials have signaled that any price should be above $60 a barrel, or high enough to cover production costs and encourage more output,\u201d said a report on Seeking Alpha, a USbased crowd sourced content provider for financial markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Group of Seven (G-7) rich nations and Australia have agreed to set a fixed price when they finalise a price cap on Russian oil later this month, rather than adopting a floating rate, sources said on Thursday. US officials and G7 countries have been in intense negotiations in recent weeks over the unprecedented plan to put a price cap on sea-borne oil shipments, which is scheduled to take effect on December 5 \u2014 to ensure EU and US sanctions aimed at limiting Moscow\u2019s ability to fund its invasion of Ukraine do not throttle the global oil market. \u201cWhile it\u2019s [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,215,148],"tags":[],"class_list":["post-534600","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-telegraph","category-the-telegraph"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/534600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=534600"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/534600\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=534600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=534600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=534600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}