OPEC+ Faces Russia Reckoning Despite Effort to Ignore War
- Group met for 13 minutes without discussing Ukraine invasion
- Disruption to Russian oil exports could force the issue
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OPEC+ is doing its best to ignore the Ukraine war started by one of its leading members, but it may not be able to for much longer.
Russia’s invasion of Ukraine, oil’s surge beyond $110 a barrel and the resulting mayhem in financial markets barely figured in the cartel’s meeting on Wednesday. The group ratified a 400,000 barrel-a-day production increase that was scheduled for April and wrapped up in a record time of just 13 minutes.