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Russia Speaks Out Against High Oil Prices As Brent Nears $100 — Tsvetana Paraskova

Summary:
Russia’s Energy Minister, Nikolai Shulginov, claimed that the optimal oil price would be between and .Oil prices broke this morning on the back of Russian troops entering Ukraine after Putin declared Donetsk and Luhansk independent territories.Nikolai Shulginov also claimed that Russia does not support high natural gas prices as they slow down the economy and lower demand.Saudis are the swing producer and set the price. OilPriceRussia Speaks Out Against High Oil Prices As Brent Nears 0Tsvetana Paraskova

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  • Russia’s Energy Minister, Nikolai Shulginov, claimed that the optimal oil price would be between $55 and $70.
  • Oil prices broke $99 this morning on the back of Russian troops entering Ukraine after Putin declared Donetsk and Luhansk independent territories.
  • Nikolai Shulginov also claimed that Russia does not support high natural gas prices as they slow down the economy and lower demand.

Saudis are the swing producer and set the price. 

OilPrice
Russia Speaks Out Against High Oil Prices As Brent Nears $100
Tsvetana Paraskova

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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