OPEC to cover any Ukraine impact: Naimi

摘要

Seoul—Saudi Arabia and OPEC would step up to cover any shortfall in global oil supplies if the ongoing crisis in Ukraine results in any disruption to Russian crude exports, Saudi Arabian oil minister Ali Naimi said Monday. Saudi Arabia is the only OPEC producer with significant spare production capacity and has long held a policy of using its oil as a cushion to mitigate the impact of global supply disruptions. In recent weeks the United States and the European Union have imposed a series of sanctions on Russia over its annexation of Crimea and have threatened to extend their business curbs on Russia’s energy sector if Moscow fails to de-escalate the crisis in Ukraine.