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G-7 Leaders to Discuss Cap on Russian Oil Prices
Posted
June 27, 2022
Views
623
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June 27, 2022
623
5
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1.93%
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0:18Now PlayingOil rose as investors monitored developments from the gathering of Group of Seven leaders, and two supplier countries flagged potential output cuts due to political unrest.
West Texas Intermediate rose above $109 a barrel in a choppy session on Monday. The G-7 is weighing a price cap on Russian crude. Libya’s National Oil Corp. signaled a potential dent in supply due to a worsening political crisis. Ecuador could halt oil production even quicker due to anti-government unrest, the energy ministry there said. Meanwhile, OPEC+ will be meeting this week to discuss production increases.
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