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Saudis, Allies Open Door to Oil-Output Cut to Keep Prices High

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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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Why should they? We can produce much more and we could have enabled Canada (XL) but the liberals and the Biden administration resist it.

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