DW Business - News July 7, 2024
the u. s. is demanding that opec increase production volumes. some member nations are in favor of raising production quotas, but this requires agreement with russia. after the united states, russia is the world's 2nd largest oil producer, and through the opec plus membership. russia is bound to the decisions of the other opec countries. currently, russia has no interest in increasing production volumes and might not technically be in a position to do so. anyway, because of the barrage of western sanctions. a decision is now on the table to exclude russia from the cartel or not. addre...