G7, Australia agree on $60/b oil price cap for seaborne Russian crude

The G7 and Australia, its current member of the Price Cap Coalition, agreed on Dec. 2 on the maximum price of $60/b for seaborne Russian-origin crude oil, the G7 and Australia said in a joint statement late Dec. 2, following the unanimous decision by EU member countries to endorse a level for the price cap on seaborne Russian-origin crude oil….