The Bunker Group
JPMorgan warns oil prices could surge 240% as Russia slashes output in response to Western sanctions
Russia is in a strong position and could well slash its oil output, JPMorgan said, sending prices to "stratospheric" levels.
This is already many times, market (western market players) warn western Politicians to not playing politics too much with market mechanism. So far Western Politicians meddling with market mechanism during this trade war, hurt Western population (and some argue) relative more than the effect toward Russian population.
This in sense because Russian economy already prepared themselves for large hit. While Western publics are not being prepared on the consequences, because when Western politicians launch this trade war, they are so sure the effect to Russia will be devastating while to West only minimum.
When I talk toward Energy traders, how G7 can cap Russian oil prices. What they say the effect can be other way around. Russia can sell cheaper toward the 'friendly' market (as they do right now) and price up the margin to cover it toward 'unfriendly' market. Just like JP Morgan warn, the actual happen will bite more the West energy market.