Some OPEC members are exploring the idea of suspending Russia’s participation in an oil-production deal as Western sanctions and a partial European ban begin to undercut Moscow’s ability to pump more.
Exempting Russia from its oil-production targets could potentially pave the way for Saudi Arabia, the United Arab Emirates and other OPEC producers to pump significantly more crude, something that the U.S. and European nations have pressed them to do.
For the past two summers, covid was our No. 1 concern. This year, it’s inflation and record-breaking gas prices. A new poll by Morning Consult finds that 60% of us will take more trips this year compared with last year, but higher prices are causing travelers to scale back their plans and go shorter distances. 90% of us will consider the price of gas in our decisions about whether to travel in the next three months.
