Oil Markets In Flux As Embargo Deepens; China, India Demand Russian Discounts

Two of what threatened to be huge oil market shake-ups in a year of seismic industry change took a back seat Monday, as more inflation data drove oil prices lower. Meanwhile, OPEC+ decided to hold steady its quota cut from October, as the Europe Union launched the final stage of its embargo on Russian crude.




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On Sunday, the Organization of the Petroleum Exporting Countries and its allies, including Russia, surprised analysts by agreeing to leave oil production targets intact. The…

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