Skip to content
May 29, 2022
  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Reddit
  • Telegram
  • TikTok
  • LinkedIn
Orinoco Tribune – News and opinion pieces about Venezuela and beyond

Orinoco Tribune – News and opinion pieces about Venezuela and beyond

From Venezuela and made by Venezuelan Chavistas

Primary Menu
  • News
  • Opinion
  • About us
    • About us
    • Who we are – Becoming a Volunteer
    • Editorial guidelines for contributors
    • Our Sources
      • Venezuelan Sources
      • International Sources
    • Contact us
  • Categories
    • Politics
    • Economy
    • Security and Defense
    • International
      • Africa
      • Asia
      • Europe
      • Oceania
      • US/Canada
    • Latin America and ALBA-TCP
      • South America
      • Central America and the Caribbean (+Mexico)
    • Ideology-Commune-Labor
    • Health-Education-Sport-Culture-Technology
    • Solidarity and Social Movements
    • OT Originals
  • Support Us
    • Tax Deductible Donations: AfGJ Fiscal Sponsorship Program
    • Patreon (recurrent donations)
    • PayPal and Credit Cards
Light/Dark Button
YouTube Channel
  • Home
  • News
  • OPEC Advises EU Not to Ban Russian Oil Imports, Warns of Price Instability
  • International
  • News

OPEC Advises EU Not to Ban Russian Oil Imports, Warns of Price Instability

March 26, 2022

The Organization of Petroleum Exporting Countries (OPEC) has warned the European Union that if the EU bans oil imports from Russia, the markets will see a massive increase in prices, much above those already witnessed.

The warning came during a March 16 meeting of OPEC officials which included OPEC Secretary-General Mohammad Barkindo and EU Energy Commissioner Kadri Simson.

Since the start of Russia’s military operation in Ukraine on February 24, oil prices have soared to their highest levels since 2008. This has been made worse by tough economic sanctions imposed by the US and the EU on Moscow.

RELATED CONTENT: Gulf Countries Defy Biden with Assad Visit and Stance on Russia

As a response to the rising oil prices, Washington and London tried to pressure Saudi Arabia and the United Arab Emirates to increase their oil production in order to mitigate shortages, but those two countries have decided to maintain the production levels already agreed by the OPEC.

Moreover, Saudi Arabia and UAE have chosen to consolidate their relations with Moscow while their ties with the West continue to weaken.

Trying to erase Russia from the commercial map has been expensive for the West, since Russia exercises great influence in the global energy market.

 

Featured image: Fuel prices in euros at a Shell gas station in Berlin, Germany, March 9, 2022. Photo: EFE

(Misión Verdad)

Translation: Orinoco Tribune

OT/GMS/SC

Want More?

Don't want to be a victim of the Algorithm?

SIGN UP TO RECEIVE OUR WEEKLY NEWSLETTER WITH ALL YOU NEED TO KNOW ABOUT VENEZUELA

We don’t spam! Read our privacy policy for more info.

scorinoco
+ posts
  • scorinoco
    https://orinocotribune.com/author/sahelicot92/
    April 30, 2021
    US Senators Introduce Bill to Continue Theft of Venezuelan Resources
  • scorinoco
    https://orinocotribune.com/author/sahelicot92/
    May 8, 2021
    Thousands of Refugee Deaths Linked to EU's Illegal Expulsion: Report
  • scorinoco
    https://orinocotribune.com/author/sahelicot92/
    May 15, 2021
    NicaNotes: Nicaragua and Central American Migration
  • scorinoco
    https://orinocotribune.com/author/sahelicot92/
    July 10, 2021
    Eleven Suspects in Moïse's Murder Arrested at Taiwanese Embassy in Haiti
Tags: EU Oil Imports opec Russia-Ukraine conflict sanctions

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to email this to a friend (Opens in new window)

Continue Reading

Previous Previous post:

Cuba: Violence of July 11 Will Not Go Unpunished

Next Next post:

Bolívar Currency Gains Ground over US Dollar in Venezuela after Years of Precipitous Devaluation

Tax deductible donations

One time donations

Recurrent donations

Calendar

May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Apr    

NEWS: Most Viewed 72 Hours

Categories

Subscribe to Our Weekly Newsletter

We keep your data private and share your data only with third parties that make this service possible. Read our Privacy Policy.

Check your inbox or spam folder to confirm your subscription.

OPINION: Most Viewed 72 hours

We are on Telegram


Receive our news directly in your cellphone or PC, join us on our TELEGRAM channel: https://t.me/OrinocoTribune1

Download TELEGRAM, click the link above and then press the JOIN button.

We are Copyleft not Copyright


Creative Commons License
All Orinoco Tribune's work is free to use and licensed under a Creative Commons Attribution 4.0 International License.

We are on Reddit


If you are more into REDDIT, join our Orinoco Tribune Community.
Just click below and then click JOIN
https://www.reddit.com/r/OrinocoTribune/

 

  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Reddit
  • Telegram
  • TikTok
  • LinkedIn
Copyleft No rights reserved.

Orinoco Tribune needs your help on our 3 ½ year anniversary

Help us reach some small goals by the end of May

* We are currently at 25% on our annual goal. Help us reach at least 30%

*In Patreon we are below $600. Help us reach $660 (only 14 pledges of $5 each will take us there)

HELP US KEEP MAKING A DIFFERENCE PROVIDING GOOD QUALITY ALTERNATIVE INDEPENDENT NEWS FROM THE SOUTH

 

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.