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What Exempting Russia From OPEC+ Supply Quotas May Mean for Oil

  • Moscow struggling to maintain output, exports due to sanctions
  • OPEC could suspend Russia from monthly output system: WSJ
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Exempting Russia from the OPEC+ alliance’s oil-production agreements is being discussed by some members of the Organization of Petroleum Exporting Countries, the Wall Street Journal reported

Such a move would have major ramifications for global oil supply. Russia is one of the world’s top three crude producers -- along with Saudi Arabia and the US -- but it’s struggling to maintain output and exports in the face of increasing sanctions.