OPEC+ Keeps Oil Curbs Despite Russia Price Cap - The Wall Street Journal

This transcript is for your personal, non-commercial usage only. Distribution and usage of this worldly are governed by our Subscriber Agreement and by copyright law. For non-personal usage oregon to bid aggregate copies, delight contact Dow Jones Reprints astatine 1-800-843-0008 oregon sojourn www.djreprints.com.

https://www.wsj.com/articles/opec-gathers-to-decide-output-with-russian-oil-price-cap-looming-11670116254

OPEC+ said Sunday it would support output dependable up of a momentous week successful planetary vigor markets, arsenic affluent nations enforce a terms headdress connected Moscow’s petroleum exports, the European Union launches a prohibition connected Russian lipid and Chinese person Xi Jinping visits Saudi Arabia.

The determination connected Sunday allows the Organization of the Petroleum Exporting Countries and a radical of producers led by Russia—collectively known arsenic OPEC+—to instrumentality much clip to measure the marketplace interaction of a European Union and Group of Seven terms headdress of $60 a tube connected Moscow’s lipid intended to dilatory down the gross watercourse for the Ukraine war. It locks successful a 2 million-barrels-a-day production chopped decided successful October.