Why Russian Gas Flows To Europe Are Unlikely To Resume Any Time Soon

The eight OPEC+ countries that pledged additional voluntary output reductions in 2023 have announced that they will proceed with their plan to gradually roll back the reductions. A statement posted on OPEC's website on Monday revealed that Saudi Arabia, Russia, the United Arab Emirates, Iraq, Kuwait, Kazakhstan, Oman and Algeria will start unwinding a 2.2 million barrel per day cut from April. The press release stressed that the return of oil “may be paused or reversed subject to market conditions,” easing fears among traders who previously…