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Failed to connect to MySQL: (1203) User howardkn already has more than 'max_user_connections' active connectionsX-Received: by 2002:a05:620a:d83:b0:6a7:a68c:6118 with SMTP id q3-20020a05620a0d8300b006a7a68c6118mr4127134qkl.337.1658598696480; Sat, 23 Jul 2022 10:51:36 -0700 (PDT) X-Received: by 2002:a05:6830:2084:b0:61c:8178:c824 with SMTP id y4-20020a056830208400b0061c8178c824mr2027832otq.385.1658598696220; Sat, 23 Jul 2022 10:51:36 -0700 (PDT) Path: ...!news-out.google.com!nntp.google.com!postnews.google.com!google-groups.googlegroups.com!not-for-mail Newsgroups: soc.culture.china Date: Sat, 23 Jul 2022 10:51:35 -0700 (PDT) In-Reply-To: <242080cd-4d26-48d5-a40a-d19210191115n@googlegroups.com> Injection-Info: google-groups.googlegroups.com; posting-host=174.99.33.53; posting-account=sQgtagoAAAB2Cf4qBTW8cwfp7bDiKK3s NNTP-Posting-Host: 174.99.33.53 References: <242080cd-4d26-48d5-a40a-d19210191115n@googlegroups.com> User-Agent: G2/1.0 MIME-Version: 1.0 Message-ID: <5fde67dd-38d0-4ebd-8a34-e27362a02a4cn@googlegroups.com> Subject: =?UTF-8?Q?Re=3A_Russia_won=E2=80=99t_supply_oil_to_=E2=80=98price_cap=E2=80=99_par?= =?UTF-8?Q?ticipants_=E2=80=94_head_of_Central_Bank_Moscow_will_redirect_deli?= =?UTF-8?Q?veries_to_other_countries_instead=2C_Elvira_Nabiullina_said?= From: ltlee1 Injection-Date: Sat, 23 Jul 2022 17:51:36 +0000 Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Bytes: 5749 Lines: 90 On Friday, July 22, 2022 at 2:28:53 PM UTC-4, stoney wrote: > Russia won=E2=80=99t supply oil to =E2=80=98price cap=E2=80=99 participan= ts =E2=80=94 head of Central Bank=20 > Moscow will redirect deliveries to other countries instead, Elvira Nabiul= lina said=20 >=20 > Russia won=E2=80=99t supply oil to =E2=80=98price cap=E2=80=99 participan= ts =E2=80=94 head of Central Bank=20 > FILE PHOTO: The Minerva Symphony oil tanker, seen at the Black Sea near N= ovorossiysk, Russia, August 12, 2021 =C2=A9 AP=20 >=20 > Russia will stop supplying countries that cap the price of its oil, the n= ation's Central Bank head Elvira Nabiullina announced on Friday. Moscow has= argued that a price ceiling would make oil more expensive and hurt Russian= producers.=20 >=20 > Nabiullina said that instead of complying with a price limit, Russia woul= d redirect its supply to countries not imposing such a limit.=20 >=20 > Her comments came a day after Russian Deputy Prime Minister Alexander Nov= ak issued a similar warning, telling Russia=E2=80=99s Channel One that a pr= ice cap would drive revenue lower than the cost of production, and that Rus= sia=E2=80=99s producers =E2=80=9Csimply will not work a negative profit.=E2= =80=9D=20 >=20 > US luring India to join anti-Russia oil cartel =E2=80=93 Reuters=20 > Read more US luring India to join anti-Russia oil cartel =E2=80=93 Reuter= s=20 >=20 > Seen by the US as a means of lowering global oil costs while simultaneous= ly denying Russia revenue, the possibility of a price cap was agreed by the= leaders of the G7 nations during their summit in June. Participating count= ries would deny shipping and insurance to Russian oil priced above a set ra= te.=20 >=20 > The participation of only a small number of countries would have a global= effect, as British and European companies currently insure 85-90% of seabo= rne Russian oil cargoes, according to figures from the Brookings Institutio= n, a US think tank.=20 >=20 > While no concrete price has yet been set, Japanese Prime Minister Fumio K= ishida recently suggested that the upper threshold for a price cap would be= set at around half the current market price for Russian oil.=20 >=20 > Russia has warned that attempting to artificially cap oil prices would be= counterproductive for the West. =E2=80=9CThere will be significantly less = oil on the market, and its price will be much higher,=E2=80=9D Security Cou= ncil Deputy Chairman Dmitry Medvedev stated, predicting that the price cap,= if it goes ahead, could drive the cost of a barrel of oil above $300-400.= =20 >=20 > https://www.rt.com/business/559472-russia-stop-oil-exports/ Biden had announced the selling of 1 million barrel a day of US Strategic O= il Reserve=20 (filled to ~721 million barrel last December) last March 30. Such release p= robably reduces US gasoline price at the pump does drop from its Jun high.=20 https://charts.gasbuddy.com/ch.gaschart?Country=3DUSA&Crude=3Df&Period=3D12= &Areas=3DUSA%20Average%2C%2C&Unit=3DUS%20%24%2FG But the oil market is still tight. Iran had increased it oil selling price = a few days ago. "As reported, NIOC=E2=80=99s official selling price increase affected four = grades of Iranian oil=20 namely Light, Heavy, Soroush and Forouzan. The NIOC had set the August OSP of Iranian Light grade for Asia at $8.9 a b= arrel above=20 the Oman/Dubai average, up $2.80 from the previous month. The prices for Iranian Heavy, Forouzan, and Soroush grades are also set to = be $5.6,=20 $5.65, and $1.45 above the Oman/Dubai average, respectively. Iran has been shipping its oil into the global markets successfully despite= the U.S.=20 sanctions and over the past year, the export of Iranian crude oil increased= significantly. In late June, Head of Iran=E2=80=99s Planning and Budget Organization (PBO)= Massoud=20 Mir-Kazemi announced that selling oil was better than before. =E2=80=9CThe price of oil and its export has increased and selling oil has = become better,=E2=80=9D=20 Mir-Kazemi told reporters on the sidelines of the cabinet meeting on June 2= 2."" https://www.tehrantimes.com/news/474793/Iran-raises-August-OSP-for-Asian-bu= yers As is, Russia has little reason to accept imposed price cap from without.