OPEC+ says prolonged Ukraine conflict would be major blow to global economy

FILE PHOTO: The OPEC logo is seen at OPEC's headquarters in Vienna
FILE PHOTO: The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen at OPEC's headquarters in Vienna, Austria June 19, 2018. REUTERS/Leonhard Foeger

March 31, 2022

LONDON (Reuters) – OPEC+ has warned the global economy would see a major blow from a prolonged conflict in Ukraine, the oil producing group said in an internal report, seen by Reuters.

“Consumer and business sentiment is expected to decline not only in Europe, but also in the rest of the world, when only accounting for the inflationary impact the conflict has already caused,” it said.

(Reporting by OPEC Newsroom; editing by Jason Neely)