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Text size About the author: Ben Cahill is a senior fellow with the Energy Security and Climate Change Program at the Center for Strategic and International Studies in Washington, D.C. Four months after price caps were first imposed on Russian oil exports, progress is mixed. The oil market adjusted remarkably well to the European Union embargoes and price caps, and Russian oil revenue is dropping substantially. But look a bit deeper, and more challenges are apparent. The recent production cut by the oil cartel OPEC and its allies suggests higher oil prices are coming this year. That will make it...
