price cap

  • Oil supply won't be affected by stricter price cap enforcement, IEA says

    Oil supply won't be affected by stricter price cap enforcement, IEA says

    The International Energy Agency (IEA) does not expect moves by the Group of Seven nations to counter the evasion of price caps on Russian energy will change the supply situation for crude oil and oil products, the IEA's Executive Director Fatih Birol said.

  • How EU gas price cap impacts markets

    How EU gas price cap impacts markets

    The European Union (EU) has over the past two decades sought to deregulate gas, thereby supporting gas pricing based on market mechanism in gas hubs versus oil-indexed gas pricing in long-term contracts. However, in the midst of Russia-Ukraine tension and the subsequent spike in gas prices, the European bloc has for the first time set a price cap for gas transactions in a bid to blunt gas price fluctuations. But what are the consequences of this policy? What message are the Europeans sending to the gas market? The Gas Market Division of the Directorate of OPEC and Int’l Energy Fora of Iran’s Ministry of Petroleum has studied this policy and its impact on global markets.