Saudi Arabia and some of its oil-producing allies have suggested cutting crude production, disappointing U.S. officials who predicted the kingdom would be instrumental in cooling the market
High oil prices have been beneficial for OPEC+, an alliance of oil-producing countries that controls more than half of the world's output.
WSJ’s Shelby Holliday explains what OPEC+ countries are doing with the windfall and why they aren’t likely to distance themselves from Russia. Illustration: Adele Morgan
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