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 undermine Moscow’s ability to pump more, officials said. OPEC.
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 a lot more crude, which the United States and European countries urged them to do so as the invasion of Ukraine pushed oil prices above $100 a barrel.
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