US official Amos Hochstein discusses EU ban on Russian oil products

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The US President’s Special Coordinator on Energy Security Amos Hochstein discusses with Al Arabiya presenter Naser El Tibi the upcoming EU ban on Russian oil products and the price cap on Russian crude.

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He also discusses whether the recent weakness in oil demand has proven OPEC+ correct with regards to their decision back in October to cut production which the Biden Administration has criticized.

Moreover, he answers the question why is the US administration beginning to purchase crude to rebuild its strategic petroleum reserves starting next month following last year’s massive draws, although the Government is still mandated to make significant sales later this September?

You can watch the full episode above or on YouTube here.

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