OPEC+ to debate large oil cutback that could help Russia ...Kuwait

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OPEC+ to debate large oil cutback that could help Russia
The OPEC+ alliance of oil-exporting countries on Wednesday will debate a potentially large cut in the amount of crude it ships to the global economy – a move that could help Russia weather a looming European ban on oil imports and raise gasoline prices for US drivers just ahead of national midterm elections. Energy ministers from the Organization of the Petroleum Exporting Countries (OPEC) cartel, whose leading member is Saudi Arabia, and allied non-members including Russia are meeting in person at the group's Vienna headquarters for the first time since early 2020 at the start of the Covid-19 pandemic. A production cut could benefit Russia by establishing higher pric

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