Name: OPEC+ To Stick To Reducing Production, Impact Of Russia
Uploaded: 2022-12-06T18:45:32.447
Duration: 11 min 43 s

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OPEC+ is set to stick to the existing policy of reducing production. "Now we have countries that are saying we will not buy your oil versus not selling it in the 1970s. There will also be a $60 price cap on Russian oil, but that will not go to the U.K, U.S., or Europe due to the ban. Russia will have its economy constrained with the ability to ship oil. This will create positive pressure on Brent and WTI, which will impact the OPEC+ nations that are not subject to the embargo," says Kurt Nelson.