OPEC+ Cannot Predict How EU Embargo, Price Cap On Russian Oil Will Work - Saudi Minister

OPEC+ Cannot Predict How EU Embargo, Price Cap on Russian Oil Will Work - Saudi Minister

OPEC+ does not know what will happen to the European embargo on Russian oil and the price cap, who will support it and how the market will react, Saudi Energy Minister Prince Abdulaziz bin Salman said following the OPEC+ meeting held in Vienna on Wednesday

MOSCOW (Pakistan Point News / Sputnik - 05th October, 2022) OPEC+ does not know what will happen to the European embargo on Russian oil and the price cap, who will support it and how the market will react, Saudi Energy Minister Prince Abdulaziz bin Salman said following the OPEC+ meeting held in Vienna on Wednesday.

"Unfortunately, none of us can claim that he has a 'crystall ball,'" the minister said. "We don't know what will happen to the embargo, we don't know yet how the cap will be executed, and who's gonna commit to it, and what will be the impact of it."