oil prices retreated on friday as the european union awaits word from poland on an agreement to cap russian crude exports at 60 a barrel poland which has said it prefers a low cap to minimize the profits russia makes from selling oil asked for more time before signing off on the proposal the wall street journal reported all 27 eu members need to say yes to the limit which will be enforced by group of seven nations by forbidding western companies from insuring cargoes unless the oil is sold at or below the cap