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OPEC failed to raise production substantially in April
04:04
Global Economy & Markets
OPEC failed to raise production substantially in April
Proposed EU sanctions on Russia's energy sector are fuelling another rally in oil markets. The international benchmark Brent is up more than 2% to around $107 a barrel. Investors are also reacting to reports that oil exporters have been unable or unwilling to pump more crude out of the ground. A survey by Bloomberg shows the oil cartel, OPEC raised its output by just 10,000 barrels a day in April well below its pledge, 400,000 barrels. Taha Arvas joined us from Istanbul. He is professor of finance at Bogazici University. #OilPrices #OPEC #RussiaSanctions
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