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.


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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