OPEC Warns A EU Ban On Russian Oil Could Have Serious Consequences

OPEC is concerned that a potential European Union embargo on Russian oil imports would hurt consumers, and has relayed those concerns to the EU, Reuters reported exclusively on Thursday, quoting OPEC sources. Russia is OPEC’s key non-OPEC partner in the OPEC+ production agreement, which has been managing supply to the market for several years now. OPEC+ and OPEC have not officially commented on the Russian invasion of Ukraine as the organization usually steers clear of geopolitical commentary or comments on the rule of law or policies in…