In the CNBC TV interview, Alex Booth comments on the increase in oil price, the impacts of a potential Russian oil sales ban, the IEA's decision to release 60 mb of oil stockpiles and today's OPEC+ meeting. Alex noted that the problem for OPEC+ is that Saudi Arabia and the United Arab Emirates are currently the only ones with spare capacity to raise production.
But the OPEC+ group cohesion could take a hit if Saudi and the UAE do raise production when others are constrained. These countries will also want to avoid further alienating an increasingly isolated Russia.
