The major oil-producing countries led by Saudi Arabia and Russia are wrestling with whether to make another cut in supply to the global economy as the OPEC+ alliance struggles to prop up sagging oil prices that have been a boon to US drivers and helped ease inflation worldwide.
The 23-member group is meeting on Sunday at OPEC headquarters in Vienna after sending mixed signals about possible moves.
Saudi Arabia, dominant among the oil cartel’s members, has warned speculators that they might get burned by betting on lower prices. Russia, the leader of the non-OPEC allies, has indicated no change to output is expected.
