The EU-OPEC meeting on Monday comes as the European Union considers potential sanctions on Russian oil
European Union officials will hold talks in Vienna with OPEC representatives on Monday amid calls for the producer group to increase output and as the EU considers potential sanctions on Russian oil.
OPEC+, which consists of the Organization of Petroleum Exporting Countries and other producers, including Russia, will raise output by about 432,000 barrels per day in May. Russian oil has been excluded from EU sanctions so far. But after the 27-country bloc agreed last week to sanction Russian coal – its first to target energy supplies – some senior EU officials said oil could be next.
Australia, Canada and the United States, who are less reliant on Russian supply than Europe, have already banned Russian oil purchases.
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