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, reiterating earlier hints that it would act to support prices that haveby Saudi Energy Minister Prince Abdulaziz bin Salman. As Saudi Arabia is the group’s largest producer by some margin, comments from its officials carry large sway over the group’s actions but it is the first time such comments have been made on behalf of the entire 13-member cartel.
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