OPEC and its allies stuck to their targets as markets struggle to assess the impact of a slowing Chinese economy and a G7 price cap on Russian oil. The group angered the U.S. and others in October when it agreed to cut output by 2 million barrels per day.
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The move by the West to prohibit shipping, insurance and re-insurance companies from handling cargoes of Russian crude above the cap, is an attempt to punish Putin for the Ukraine conflict.
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There was no sign of significant unrest this weekend, although police were out in the Liangmaqiao area of Beijing and in Shanghai around Wulumuqi Road, which is named after Urumqi.