Oil price could TRIPLE to $380 / barrel, warns JPMorgan, from Putin simply reducing oil exports from Russia
07/06/2022 // Ethan Huff // Views

If you think gas prices are bad now, consider what JPMorgan analysts are now saying about the price of a barrel of oil tripling in the not-too-distant future.

Right now, a barrel of oil costs about $111. But if JPMorgan analysts are correct, then that same barrel of oil will soon be $380 – and the culprit, as always, is "Russia."

Should Vladimir Putin's country cut output, then gas will skyrocket even higher than its current price, decimating the American and global economies in a matter of weeks or days.

"It is likely that the government could retaliate by cutting output as a way to inflict pain on the West," the analysts wrote. "The tightness of the global market is on Russia's side."

JPMorgan head Jamie Dimon recently warned about an "economic hurricane" soon to come, and it appears that this latest analysis is fleshing out what it might look like.

If Russia cuts oil production by three million barrels per day, or so we are told, then a barrel of oil on the global market will increase in price to $190. In a worst-case scenario, Russia could cut oil production by five million barrels per day, driving a single barrel price up to $380.

Many Western countries, especially in Europe, rely on Russian oil and other fuels to power their economies. Germany, Europe's largest economy, is already suffering due to its refusal to pay for fuel in Russian rubles following the Ukraine war sanctions.

The "Group of Seven," as they are called, which lead many industrialized nations, is working on a complex plan, reports indicate, to cap the price that Russia can charge from oil sales to non-G7 countries as part of their next-level sanctions against the country.

Brighteon.TV

"The goal here is to starve Russia – starve Putin of his main source of cash and force down the price of Russian oil to help blunt the impact of Putin's war at the pump," announced a senior official in the Biden regime, once again blaming Putin for the situation.

"The dual objectives of G7 leaders have been to take direct aim at Putin's revenues, particularly through energy, but also to minimize the spillovers and the impact on the G7 economies and the rest of the world."

Capping oil prices could actually strengthen Putin rather than punish him

There is almost nothing that happens anymore that Western authorities do not end up blaming on Russia, even though the energy crisis would not be a crisis at all if America was still energy independent.

Thanks in part to the Biden regime's "green" economic policies, America is more energy dependent than it has been in a long time, and the consequences of this are still unfolding.

"The most obvious and likely risk with a price cap is that Russia might choose not to participate and instead retaliate by reducing exports," warned JPMorgan analysts about how the latest G7 proposal could end up backfiring and hurting the West even more.

When asked recently how long he expects Americans to be paying sky-high gas prices, Joe Biden, America's fake president, said:

"As long as it takes so Russia cannot, in fact, defeat Ukraine and move beyond Ukraine. This is a critical, critical position for the world. Here we are."

Should Putin attempt anything more that upsets Biden and his handlers, the United States plans to take steps to strengthen NATO "across the board," Biden added.

"This is about the future of the liberal world order, and we have to stand firm," added Brian Deese, the White House Director of the National Economic Council, about how Americans need to suck it up and continue draining their wallets at the gas pump on behalf of globalists whose personal interests are being shaken and threatened by Putin's "special operation" in Ukraine.

More related news stories can be found at Collapse.news.

Sources for this article include:

NeonNettle.com

NaturalNews.com



Take Action:
Support Natural News by linking to this article from your website.
Permalink to this article:
Copy
Embed article link:
Copy
Reprinting this article:
Non-commercial use is permitted with credit to NaturalNews.com (including a clickable link).
Please contact us for more information.
Free Email Alerts
Get independent news alerts on natural cures, food lab tests, cannabis medicine, science, robotics, drones, privacy and more.
App Store
Android App
eTrust Pro Certified

This site is part of the Natural News Network © 2022 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

This site uses cookies
Natural News uses cookies to improve your experience on our site. By using this site, you agree to our privacy policy.
Learn More
Close
Get 100% real, uncensored news delivered straight to your inbox
You can unsubscribe at any time. Your email privacy is completely protected.