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Oil pares gains as OPEC eyes exempting Russia from output deal

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Reuters UK

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices pulled back some of their gains on Tuesday after a report that some OPEC members were exploring the idea of suspending Russia’s participation in an oil-production deal. Exempting Russia from OPEC+, which groups the cartel and allies, could potentially pave the way for other producers to pump significantly more crude, something that the U.S. and European nations have pressed them, the Wall Street Journal reported, citing OPEC delegates. U.S. West Texas Intermediate (WTI) crude was trading at $115.25 a barrel, up 18 cents or 0.2% from Friday’s c…

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