Opec set to stick to oil supply plan despite EU moving towards Russian ban

Despite cajoling from the US, Riyadh and Abu Dhabi have remained unmoved, with only relatively small increases in production predicted.

Opec has been restoring output halted during the pandemic, in modest tranches.

Europe may be edging closer to a ban on Russian oil imports, but the Opec+ alliance sees no need to divert from its long-established supply plan.

With shipments continuing to flow from Moscow — and proving more resilient than many anticipated — delegates say the 23-nation group will likely ratify another modest production increase when it gathers next week.