OPEC+ decided yesterday to leave its production quotas where they are, 2 million barrels per day lower than in October, an effective production cut of 1 million barrels per day. Three days earlier, the European Union had reached an agreement to set a price cap for Russian crude oil at $60 a barrel – lower than market prices but not as low as some EU members like Poland and Estonia would have liked the cap to be.

Russia responded by repeating that it had no oil on…



Source link