OPEC Weighs Suspending Russia From Oil-Production Deal

Some OPEC members are exploring the idea of ​​stopping participation in the Russian oil production deal as Western sanctions and a partial European ban begin to reduce Moscow’s ability to pump more, the OPEC delegates said.

Exclusion of Russia from oil production targets is likely to pave the way for Saudi Arabia, the United Arab Emirates and other producers in the Organization of the Petroleum Exporting Countries to pump more crude. significantly, which the US and European nations forced them to do when the invasion of Ukraine sent oil prices soaring above $100 a barrel.

https://www.wsj.com/articles/opec-weighs-suspending-russia-from-oil-production-deal-11654019943?mod=pls_whats_news_us_business_f OPEC Weighs Suspending Russia From Oil-Production Deal

Edmund DeMarche

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