Opec+ tipped to hold oil output levels steady

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The story "Opec+ tipped to hold oil output levels steady" was covered 1 months ago by Financial Times, a news publisher based in United States.

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Financial Times 1 mo ago

Opec+ tipped to hold oil output levels steady - Financial Times

Quick Summary:

But they have cooled to roughly where they were trading at the beginning of the year, with Russian oil exports having only slipped slightly since the invasion and China’s zero-Covid policy crimping demand.

Russia has slashed gas supplies to Europe since its invasion of Ukraine, sparking off an energy-led cost of living crisis that has left many countries grappling with inflation.

That may change in the coming weeks, however, as European sanctions barring seaborne imports of Russian crude come into effect on Monday, with restrictions on refined fuels to follow in February.