The world's biggest gathering of energy industry leaders kicks off in Houston Monday, as Russia's invasion of Ukraine delivers an oil price shock to the global economy and embattled executives face growing criticism for the industry's role in climate change.
Until this point, the U.S. and EU had not specifically targeted those sales, which amount to 4-5 million barrels per day of crude, more than any other nation besides Saudi Arabia. European countries account for roughly half of those purchases, according to the U.S. Energy Information Administration.
But the global turmoil has upended the agenda, where some slated speakers, including Saudi Energy Minister Abdulaziz bin Salman, have canceled plans to speak. The United States and others have called for OPEC+ to boost output - but producers are consistently falling short of targeted increases, and nations with spare capacity, such as Saudi Arabia, have been wary of using it.