Posting as an ICYMI - Reuters with the info citing an unnamed source:
- Group of Seven democracies have had positive and productive discussions with China and India about a plan to cap the price of Russian oil, a source familiar with the G7 discussions said on Tuesday, adding the two major oil consumers would have incentives to comply.
- The source, speaking on condition of anonymity, said the price-per-barrel cap level had not yet been determined, but it would have to be high enough to give Russia an incentive to keep producing oil.
There is so much going on in oil markets, these from earlier this week helping to send the price higher:
- Monday: Ecuador says its oil output may stop completely in 48 hours
- Tuesday: An Oil ICYMI - Libya warned it may suspend some exports in the next 3 days