OPEC+ kept the plan to limit oil production amid the introduction of a price ceiling, scooter rental service Whoosh announced the IPO price range – these and other important news for Monday morning, December 5, in our daily review.

OPEC+ countries, which includes Russia, decided at a meeting on Sunday to stick to the current plan to limit oil production. This is stated in a statement on the OPEC website. The decision comes amid the decision of the European Union and the G7 to impose a price cap on Russian oil, which comes into effect today, December 5.

Moscow considers the application of the price ceiling instrument for Russian oil introduced by the European Union as non-market and is mulling over a mechanism to ban trade under such a restriction, Russian Deputy Prime Minister Alexander Novak said. “In our practice we are not going to apply instruments related to price cap. For this purpose, we are now working out mechanisms to ban the use of the price cap tool no matter what level will be set,” Novak said.

Scooter rental service Whoosh announced the price range of its initial public offering on the Moscow Exchange. “The indicative IPO price range is set at 185 rubles to 225 rubles per ordinary share,” the company’s press service told Forbes. This corresponds to Whoosh’s market capitalization of 21-25 billion rubles, taking into account the expected additional issue of 2.5 billion rubles. In total, the company may raise a total of 5 billion rubles during the IPO.

The Committee on Oversight and Reforms of the U.S. House of Representatives has launched an investigation following the publications in the press about the “secret deal to increase oil production” between the administration of President Joe Biden and Saudi Arabia. This is stated in a letter from Republicans on the committee to Secretary of State Anthony Blinken, published on the website of Congress.

“Megafon” sold a minority stake in “Svyaznoy”, the operator’s CEO Khachatur Pombukhchan told RBC in an interview. He did not name the buyer, the amount of the deal and other details. The head of Megafon (MCX:MFON) noted that the company is satisfied with the deal, and the operator has closed its needs by actively developing its own retail network. However, Megafon will continue to buy assets in areas of interest to the business, and the departure of Western vendors has created great opportunities for this, said the head of the operator.