OPEC and its allies again promise a modest oil increase. But can they deliver?

Just as they have every month since this past summer, officials from OPEC and its allies met via teleconference Thursday and decided to continue their program of modest additions to the market. The producers group, which has 23 members including Saudi Arabia and Russia, issued a statement saying it would add 432,000 barrels a day in June.

Despite the vow, there is widespread skepticism about how much OPEC+ will add, if anything. Many of its own members are struggling to meet their production quotas. And war, sanctions and government releases from strategic oil reserves are now wielding major influence on the world’s oil markets, leaving the pledges of OPEC+ far less important.