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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCroft: Key factor to watch is whether Russia will penalize any customer who pays to import oil at the $60 a barrel price capRBC's Helima Croft joins Brian Sullivan to discuss the impact of the EU's ban on seaborne imports of Russian crude, and the price cap on Russian oil, and what the potential reopening of China's economy may do to prices.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC's Helima Croft breaks down forthcoming EU sanctions on Russian oil, OPEC+ meetingHelima Croft, head of global commodity strategy at RBC Capital Markets, joins CNBC's 'Squawk Box' to discuss the European Union's planned sanctions on Russian oil and her expectations for the forthcoming OPEC+ meeting.
The highly anticipated meeting comes ahead of potentially disruptive sanctions on Russian oil, weakening crude demand in China and mounting fears of a recession. Concern that an outright ban on Russian crude imports could send oil prices soaring, however, prompted the G-7 to consider a price cap on the amount it will pay for Russian oil. "The other factor OPEC will need to consider is indeed the price cap," Galimberti said. The Kremlin has previously warned that any attempt to impose a price cap on Russian oil will cause more harm than good. The energy alliance recently hinted it could impose deeper output cuts to spur a recovery in crude prices.
That's 20% lower than the European Union's proposed price cap of $65 per barrel, though some nations want it lower. EU member countries are resuming talks on Monday over the Russia oil price cap. Last week, reports said a price cap of $65-$70 was under discussion. The price cap will coincide the EU's December 5 embargo on seaborne Russian crude imports and ban on related services for deliveries worldwide. But because Russian oil is already selling below the proposed price cap level, analysts have noted that it wouldn't be low enough to weaken Moscow's revenue.
Putin said Thursday that Western plans to introduce oil price caps would have “grave consequences” for energy markets. The oil price cap aims to amend that policy. Shipping services and insurance could be provided to tankers transporting Russian oil — so long as it’s purchased at or below the price cap established by Western nations. “But reality will be different.”Some analysts think the price cap will ultimately be less important than Europe’s oil embargo. “Due to the EU oil embargo and the planned price cap on oil from Russia, oil production there is likely to be significantly curtailed,” Commerzbank said in a note to clients.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. diesel fuel problem may worsen this winter, says RBC's Helima CroftRice University Baker Institute’s Mark Finley and RBC Capital’s Helima Croft join 'The Exchange' to discuss the looming diesel shortage in the U.S.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTracking near-term trajectory for oil prices with RBC's Helima CroftHelima Croft, head of global strategy at RBC Capital Markets, joins 'Power Lunch' to discuss investor anticipation for China's reopening, how oil prices will respond and finding a workable price cap mechanism for oil.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCroft: If Republicans control the House, there could be an increase in hearings around the use of the SPR and on the Inflation Reduction ActRBC's Helima Croft discusses how the ultimate results of the midterm elections may impact U.S. energy, climate and foreign policy.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're gonna see a lot of nothing in bipartisan energy policy the next two years, says Rapidan's McNallyRBC’s Helima Croft and Bob McNally of Rapidan Energy join ‘CNBC: Business on the Ballot’ to discuss the energy markets as gas prices head higher and utility bills have soared this year.
The plan to cap Russian oil prices could be delayed as policymakers try to smooth market volatility ahead of midterm elections. Sources familiar told the WSJ that key guidance on the price cap would be set after the November 8 midterms. That could delay the price cap proposal and slash Russian oil flows when the EU ban fully kicks in. G7 leaders have been working to cap Russian crude prices in a scramble to keep Russian oil flowing in the spot market, but while limiting Moscow's war revenue. Officials have rolled out some details on how shipping companies and insurers can comply with the price cap plan, but current rules appear to be loose.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC Capital's Helima Croft breaks down conversation with Saudi energy ministerHelima Croft, head of global commodity strategy at RBC Capital Markets, joins CNBC's 'Squawk Box' to discuss her conversation with Saudi Arabia's energy minister and the country's relationship with Europe and the U.S.
Watch CNBC's full interview with RBC's Helima Croft
  + stars: | 2022-10-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with RBC's Helima CroftHelima Croft, head of global commodity strategy at RBC Capital Markets, joins CNBC's 'Squawk Box' to discuss oil prices, upcoming challenges for the Biden administration, and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRBC's Croft asks who fills oil supply gaps when EU sanctions kick in against RussiaHelima Croft, head of global commodity strategy at RBC Capital Markets, joins CNBC's 'Squawk Box' to discuss oil prices, upcoming challenges for the Biden administration, and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI'm not sure the oil market can have a war with Russia and a U.S.-Saudi Arabia spat, says strategistHelima Croft of RBC Capital Markets discusses the headwinds that oil markets face.
New York CNN Business —OPEC+’s decision to slash oil production has set off bipartisan fury in Washington directed at the Saudi Arabia-led group, raising calls for a hard-hitting US response. And as Democratic Congressman Ro Khanna told CNN earlier this week, in some ways the United States is less dependent on Saudi Arabia and other OPEC nations than in the past. US oil production has skyrocketed over the past 15 years, driving down foreign oil imports. Last year, US crude oil imports from OPEC nations stood at just 798,000 barrels per day. OPEC nations are among the only countries with the firepower to fill any gap created by the potential loss of Russian supply.
Energy analysts believe the deep production cuts could yet backfire for OPEC kingpin and U.S. ally Saudi Arabia. Energy analysts believe the deep production cuts could yet backfire for OPEC kingpin and U.S. ally Saudi Arabia, particularly as Biden hinted Congress would soon seek to rein in the Middle East-dominated group's influence over energy prices. OPEC and non-OPEC allies, a group often referred to as OPEC+, agreed on Wednesday to reduce oil production by 2 million barrels per day from November. "In light of today's action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC's control over energy prices," the White House said. While the group likes to say they keep politics out of their decisions, there's no denying that there are potential ramifications to this beyond the oil price.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe should prepare for a reduction in Russian oil, says RBC Capital’s Helima CroftHelima Croft, head of global commodity strategy at RBC Capital Markets, and former NATO Supreme Allied Commander Admiral James Stavridis join ‘The Exchange’ to discuss the energy market as the world grapples with supply shortages for crude oil and natural gas.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with RBC Capital’s Helima Croft and Adm. James StavridisHelima Croft, head of global commodity strategy at RBC Capital Markets, and former NATO Supreme Allied Commander Admiral James Stavridis join ‘The Exchange’ to discuss the energy market as the world grapples with supply shortages for crude oil and natural gas.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCroft: With no end in sight for the War on Ukraine, expect Europe's economic crisis to get worseHelima Croft, Managing Director and Global Head of Commodity Strategy at RBC Capital Markets, joins Worldwide Exchange to discuss Russian president Vladimir Putin's announcement of partial mobilization of Russia.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina lockdowns have been weighing on energy markets, says RBC Capital's Helima CroftHelima Croft, head of global commodity strategy at RBC Capital Markets, joins CNBC's 'Squawk Box' to discuss what's driving oil stocks lower ahead of the market open on Monday.
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