OPEC+ is poised for a debate about lax implementation of oil-production cuts in Vienna this week, with Russia asking to discuss a rule change that would exclude some of its oil production from the group's quota.
Ministers from some of the world's largest oil producers are gathering this week, and typically their discussions wouldn't focus on a niche hydrocarbon called condensate. Yet as Saudi Arabia signals impatience with fellow members who aren't implementing their pledged curbs, Russia's rebuttal may focus on the accounting method for this light oil that's a byproduct of natural gas.
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