Amid escalating tensions, OPEC has indicated its willingness to ramp up oil production to counter any market shortages caused by new U.S. sanctions on Russian oil giants, announced by Kuwait's oil minister. These sanctions represent the toughest U.S. measures on Russian business since the Ukraine conflict began.

Following President Donald Trump's strategic move against Russia's leading oil firms, Lukoil and Rosneft, global oil prices experienced a notable 5% increase. This development has prompted India to reassess its Russian oil imports, indicating potential global repercussions.

Kuwaiti Minister Tariq Al-Roumi foresees these sanctions driving demand towards the Gulf and Middle East, aligning with OPEC+'s ongoing strategy to increase market share by reversing prior production cuts. The

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