Shares of energy companies rose sharply in anticipation of a major production cut from the OPEC+ cartel.
Delegates are debating cuts of as much as 2 million barrels of oil a day, but the Wednesday meeting in Vienna could be contentious, as some members are wary of drastic cuts.
The European Union is advancing work on a price cap for Russian oil under a two-stage approach.
Shell Chief Executive Ben van Beurden said he expects to see additional taxes on the oil-and-gas industry as a way of helping to protect consumers from higher energy prices, and warned that a price cap on Russian oil would be difficult to implement.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-04-22 1649ET
