Some OPEC members are exploring the idea of suspending Russia’s participation in an oil-production deal as Western sanctions and a partial European ban begin to undercut Moscow’s ability to pump more, OPEC delegates said.

Exempting Russia from its oil-production targets could potentially pave the way for Saudi Arabia, the United Arab Emirates and other producers in the Organization of the Petroleum Exporting Countries to pump significantly more crude, something that the U.S. and European nations have pressed them to do as the invasion of Ukraine sent oil prices soaring above $100 a barrel.

This post first appeared on wsj.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Carbon Capture Is Hard. This Plant Shows Why.

By Eric Niiler | Photographs by Chris Hendrickson for The Wall Street…

9-year-old boy becomes 10th and youngest Astroworld victim

Ezra Blount, a 9-year-old boy who suffered brain trauma in the crowd…

Protester with ‘No War’ sign walks onto Russian state TV set

A protester interrupted Russia’s main evening news broadcast Monday, holding a sign…

Video shows moments aid workers killed in Gaza are identified

IE 11 is not supported. For an optimal experience visit our site…