EU, OPEC to discuss oil output hike

BRUSSELS:

European Union officials will hold talks in Vienna with OPEC representatives late Monday amid calls for the producer group to increase output and as the EU considers potential sanctions on Russian oil. OPEC has resisted calls by the United States and the International Energy Agency to pump more crude to cool prices which reached a 14-year peak last month after Washington and Brussels imposed sanctions on Moscow following its invasion of Ukraine. OPEC+, which consists of the Organisation of the Petroleum Exporting Countries and other producers, including Russia, will raise output by about 432,000 barrels per day in May.

Published in The Express Tribune, April 12^th, 2022.

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