Russia considers oil price floor in response to cap imposed by G7: Report

Russia is considering setting a price floor for its international oil sales as a response to a cap that the Group of Seven (G7) nations set out last week.
 

Moscow is considering either imposing a fixed price for the nation’s barrels, or stipulating maximum discounts to international benchmarks at which they can be sold, according to two officials familiar with the plan.
 

There’s no visibility yet about what the precise level might be, and if it materializes traders will be focused on whether it’s above the cap level, or comfortably below. The level would be important because companies who want