Russia's Response to Western Price Cap Likely to Hike Global Oil Prices: Expert

MOSCOW (Sputnik) - Russia can be expected to cut its oil production in response to the Western price cap, which will create shortages on the global market and lead to a significant price hike, Mamdouh Salameh, an international energy economist and visiting professor of energy economics at the ESCP Europe Business School in London, told Sputnik.