Buoyed by OPEC+ surprise production cuts, the price of Russia’s flagship Urals crude is threatening to reach beyond the $60 per barrel price cap set by the G7, with reports now emerging that oil loadings from western Russian ports in April are likely to reach their highest level since 2019.Despite a 500,000 barrel-per-day output cut announced by Moscow in alleged retaliation for the G7 price cap of $60, Urals crude loadings from Russia’s western ports is set to be more than 2.4 million bpd for the month of April, Reuters reports, citing…
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