NEW YORK - Some Opec members are considering the idea of suspending Russia in an oil production deal as Western sanctions hurt the nation's ability to produce more, the Wall Street Journal reported on Tuesday, citing Opec delegates.
Exempting Russia could pave the way for Saudi Arabia, the United Arab Emirates and other Opec members to produce more to meet the production targets. Oil prices have soared to above US$100 a barrel since the Russian invasion of Ukraine and countries including the United States have urged a hike in production to bring prices down.
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EU fails to agree on Russia oil embargo, to try again Monday before summitBRUSSELS: The EU failed on Sunday (May 29) to agree on an embargo of Russian oil, but diplomats but will still try to make progress ahead of a Monday-Tuesday summit on an exemption for pipeline deliveries to landlocked Central European countries, officials said. However, a senior EU diplomat said there was cause they realized that they are all just a bunch of hypocrites who cared more about profits than the environment or the war.
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Oil climbs ahead of EU meeting on Russia sanctionsMELBOURNE : Oil prices rose to two-month highs on Monday as traders waited to see if the European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine.Brent crude futures gained 46 cents, or 0.4 per cent, to $11
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EU to pledge support for Ukraine, but not ready with new Russia sanctions
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France's Macron not ruling out more Russia sanctionsPARIS: French President Emmanuel Macron said on Tuesday (May 31) that, following a sixth European Union package of sanctions against Russia, nothing could be ruled out in terms of additional sanctions in the coming weeks. Speaking to reporters following an EU summit in Brussels, he also said he hoped More sanctions now. Not later. Lazy politician , sanction is an old school method that wont work anymore , Russia had been sanction for many years , they are as strong as ever . Now with China and China's alliances , sanction work ? Think about it .
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Russia oil sanctions to burden strained supplies - Reuters pollTensions over Ukraine will continue setting the tone for oil markets in coming months, with the European Union's ban on most Russian imports sapping already constrained global crude supplies, a Reuters poll showed on Tuesday. A survey of 33 economists and analysts forecast Brent crude would average
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Senior Ukraine official says EU sanctions on Russia still 'not enough'MADRID: The latest European Union sanctions on Russia, which ban most imports of its oil, are \u0022not enough\u0022 and the pace of sanctions so far has been too slow, a senior official in the Ukrainian president\u0027s office said in a speech in Madrid on Tuesday (May 31). In the bloc\u0027s toughest reprisals against Mosco
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