0933 GMT - The potential easing of Western sanctions on Russia is unlikely to significantly increase Moscow's oil flows, according to Goldman Sachs. Traders are closely monitoring talks between the U.S. and Russia aimed at ending the war in Ukraine, as a peace deal could lead to the lifting of sanctions and resumption of some Russian exports to Europe. However, "Russia crude oil production is constrained by its OPEC+ 9 million barrels a day production target rather than current sanctions, which are affecting the destination but not the volume of oil exports," analysts at the U.S. bank say. Goldman also says it expects OPEC and its allies to delay plans to start raising output in April, citing higher compliance with quotas from Russia and other producers as well as the strategic advantage of keeping options open amid high uncertainty surrounding U.S. policy.(giulia.petroni@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 04:33 ET (09:33 GMT)
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