Irish Foreign Minister Simon Coveney said that the hundreds of millions of euros being spent on importing oil from Russia needs to be "cut off" soon.
The release of crude stocks by China will occur around Lunar New Year, which falls on Feb. 1, the sources said.
A border carbon adjustment, like one included in a legislative proposal, might level the playing field for U.S. companies disadvantaged in global trade by climate regulations.
Saudi Arabia, the world's biggest oil exporter, was hit hard last year when oil prices plummeted.
Michigan set a May 12 deadline for Enbridge to shut down the crude oil pipeline.
If the increase is a one-off, it won’t affect a market that is quickly rebalancing.
Some Republican lawmakers have asked president to block shipments under executive authority.
President urged to embargo oil from OPEC and Russia.
As long as tariffs on gas remain, traders will be reluctant to commit to deals.
The decision, in effect for a year, could increase US petrochemical exports to China.