Russian oil is being sold way above the EU price cap, researchers say

• Russian oil is being sold way above the $60 a barrel price cap, according to a group of researchers.
• A new paper estimates that Russian crude was trading at an average price of $74 a barrel in late 2022.
• That's because oil demand outside Europe is still strong, and suppliers haven't been complying with the price cap. 

Russia is selling its crude way above the European Union's $60 per barrel price cap, according to a group of researchers, suggesting that the west's attempts to squeeze Moscow's war financing haven't gone exactly to plan.