Oil pours out of a spout from Edwin Drake’s original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania US. Photo: Reuters/File
Oil pours out of a spout from Edwin Drake’s original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania US. Photo: Reuters/File
Russia

Opec+ likely to maintain output levels despite sanctions on Russian oil

  • Oil-producing nations, including Russia will review their decision in October to cut production by two million barrels per day
  • EU, G7 agreed a US$60-per-barrel price cap on Russian oil, which comes into effect Monday, alongside an EU embargo on maritime deliveries of Russian crude

Oil pours out of a spout from Edwin Drake’s original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania US. Photo: Reuters/File
Oil pours out of a spout from Edwin Drake’s original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania US. Photo: Reuters/File
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