Oil Edges Up After Two-Day Slump

The transcript discusses the Russian reaction to the oil price cap, which was initially benign. It explores potential extreme actions Russia might take, such as manipulating the oil market, and the vulnerabilities in the market due to low inventory and spare capacity. The discussion includes oil price forecasts, highlighting political risks over economic fundamentals. The conversation concludes with speculative price predictions, emphasizing the influence of political factors on market dynamics.

What extreme actions could Russia potentially take in response to the oil price cap?

How does the speaker view the effectiveness of the oil price cap policy?

What factors contribute to the vulnerability of the oil market as mentioned in the text?