Global oil prices have held relatively steady since November last year. Despite several geopolitical factors affecting its fundamentals, it has been congested inside $83-70 per barrel throughout this period.Amid fears of a global supply glut, the G7-led price cap on Russian oil and Moscow’s plan for a drastic production cut had little impact on the commodity.The G7 countries and the European Union set a price cap on Russian oil at $60 a barrel last week…
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