Free Trial

PM Draghi Discussed Creating 'Cartel' Of Oil Buyers w/Biden

ITALY

Following his meeting with US President Joe Biden at the White House, Italian PM Mario Draghi stated that he and Biden discussed creating a 'cartel' of oil buyers, and that they also talked about making a request to OPEC to boost oil production.

  • Draghi: "We must continue to support Ukraine and put pressure on Moscow, but we must also begin to ask ourselves how peace is built"
  • Draghi says that many gas importers already have accounts for rouble transactions with Gazprom. Calls the issue a 'grey area', adding that it is not clear what would be classed as a breach of sanctions re: rouble payments for gas.
  • Draghi on EU 'strategic autonomy': "There is a lot of duplication...[EU needs] a conference of all member states to rationalise military spending before we start thinking about increasing military spending. The two things will necessarily go together..."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.