OPEC failed to raise production substantially in April

Proposed EU sanctions on Russia's energy sector are fuelling another rally in oil markets. The international benchmark Brent is up more than 2% to around $107 a barrel. Investors are also reacting to reports that oil exporters have been unable or unwilling to pump more crude out of the ground. A survey by Bloomberg shows the oil cartel, OPEC raised its output by just 10,000 barrels a day in April well below its pledge, 400,000 barrels. Taha Arvas joined us from Istanbul. He is professor of finance at Bogazici University. #OilPrices #OPEC #RussiaSanctions