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
This article is for subscribers only.
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.