Some members of the energy alliance OPEC+ are considering whether to suspend Russia from the oil production deal, The Wall Street Journal has reportedCiting unnamed OPEC representatives.
It comes at a time when non-OPEC leader Russia, a major player in global energy markets, is facing Western sanctions and Partial oil embargo from the European Union In the wake of the attack in Ukraine.
OPEC representative Allegedly There are concerns about increasing economic pressure on Russia and its ability to pump more crude to cushion rising prices.
CNBC has reached out to Russia’s Ministry of Energy and an OPEC spokesman for comment.
OPEC and non-OPEC countries are due to discuss the next phase of production policy on Thursday.
Read WSJ’s full article Here,