Putin faces a tough 2023 for Russian oil as the West's ban and price cap take hold. These 3 experts assess whether the measures will work — and what it means for crude prices.

Jan 2 2023 by Business Insider

 
EU sanctions on Russian oil products are set to take effect on February 5.

Jason Kozlowski / EyeEm

Oil markets may face headwinds in 2023 as fresh Western sanctions and a price cap on Russian oil come into effect.  Analysts expect a slump in Russian crude output to squeeze global supplies, putting upward pressure on oil prices. Demand from China is expected to pick up as zero-COVID restrictions ease, adding to the tightness in energy markets. 

Brace for a drop in Russian oil output and a...

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