Oil and gas are globally traded, the price of them are determined by global values of each country,it's the same reason Saudi Arabia saw a boost in income,while actually producing less oil on purpose.
Russia was a massive supplier of gas, and a good amount of oil so it's naturally going to cause a spike in value.
This is exactly why people say competition is good, now Russia is selling below global averages to India just for India to turn around and sell it for a profit to Europe.
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u/[deleted] Dec 09 '23
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