US pump prices at record high as OPEC+ producers gather for meeting
The OPEC oil cartel and allied countries including major exporter Russia are weighing how much oil to produce as U.S. gasoline prices hit another record high.
Thursday’s meeting comes amid speculation that the 23-member alliance, known as OPEC+, may consider breaking from its cautious series of increases and agree to pump more oil starting in July amid fears that high energy prices could slow the global economy. Higher oil and gas prices have contributed to the inflation that is plaguing the U.S. and Europe and sapping consumer purchasing power.
