The Organization of Petroleum Exporting Countries and its main producer allies decided to keep their production quotas constant.

According to news reports, OPEC+ countries were waiting for clearer indications of the possible impact that the reopening of the Chinese economy and additional rounds of sanctions against Russian crude oil and Russian products would have. Dow Jones Newswires reported.

In immediate reaction, as of 1355 GMT predated Brent crude oil futures on ICE were up 0.23% on…