RE: What’s happening21 Feb 2023 14:48
If the oil prices drop low enough for other non complying countries like China, Iran, Syria, ect. Ect., then the countries that are big producers of oil and gas will benefit as those buyers that chose to undercut the Western oil suppliers might consider buying from within the regulated oil and gas suppliers network and avoid being pulled up or named and shamed as sanciones abusers.
As it stands, those non compliant buyers of oil and gas countries will continue to buy in the black market and therefore companies like harbour energy will have to reduce their need to pump more oil and gas and cut its workforce if it can't get a competitive price in the market.