The OPEC+ group has no immediate plans to take action after Iran called on Islamic countries to impose an oil embargo on Israel over its war with Hamas in the Gaza Strip, OPEC+ officials said. Reuters on wednesday.
Earlier in the day, Iran called on the Islamic Middle East’s OPEC+ producers to impose an oil embargo on Israel over recent deadly airstrikes in the Gaza Strip.
A Foreign Ministry statement posted on Telegram said Iran wants “an immediate and complete embargo on the Zionist regime by Islamic countries and an oil embargo on the regime.” bloomberg.
Oil prices soared more than 2% early Wednesday as the Israeli military and Hamas accused each other of the overnight hospital attack.
OPEC+ is not currently planning an extraordinary meeting or immediate action after Iran accused Israel of a missile attack on a hospital in the Gaza Strip that killed around 500 people, Reuters sources said.
OPEC is not a political group, one of the sources told Reuters.
OPEC and OPEC+ have long avoided public comment on geopolitical issues, including U.S. sanctions on OPEC members Iran and Venezuela, and U.S. and EU sanctions on OPEC+ producer Russia over its invasion of Ukraine.
Although Israel is a small oil importer, the possibility that the Hamas-Israel war could spread further across the Middle East has not been ruled out, raising analysts’ concerns about supplies from the world’s most important oil exporting region. ing.
The call for an oil embargo from Iran to Israel came on the day US President Joe Biden arrived in Israel.
President Biden: “I am deeply saddened and outraged by yesterday’s hospital explosion in Gaza. From what I saw, it appears to have been carried out by another team, not by you.” Said At a meeting with Israeli Prime Minister Benjamin Netanyahu.
Written by Charles Kennedy, Oilprice.com
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