Oil prices are high, and drivers are paying more at the pump. But the OPEC oil cartel and allied producing nations may not be much help as they decide Thursday how much more crude to send to world markets.
That’s because the 23-member OPEC+ alliance, which includes Russia, is struggling to produce enough oil to keep up with the rebounding demand for fuel since the COVID-19 pandemic. Plus, Western buyers are shunning barrels from Russia over its war in Ukraine, meaning there’s less oil on the market to go around.
