Opec sees Russia’s invasion of Ukraine curtailing both world oil demand and supply, indicating little need for the group to divert from its current production policy. It’s the latest sign that the alliance will remain on the sidelines of the escalating energy crisis. Opec secretary-general Mohamed Barkindo told the European Union on Monday that the oil market was beyond its control. The Organization of Petroleum Exporting Countries cut forecasts for global oil consumption in 2022 by 410,000 barrels a day, according to its latest monthly report. At the same time, it lowered projections for supplies from outside the group by 330,000 barrels a day, with Russia’s output now seen 530,000 barrels
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