Topic - Organization Of Petroleum-Exporting Countries

Saudi Arabia and Russia, a member of the so-called OPEC+, said last month they would extend previously announced oil cuts to drive global markets higher amid a busy international travel season. 

Why gas prices are spiking across the U.S. →

“This is a precautionary measure taken in coordination with the countries participating in the OPEC+ agreement, which previously announced voluntary oil cuts in April,” Alexander Novak, Russia’s deputy prime minister, wrote on the government’s website.

Price caps on Russia's oil are cutting revenue and weakening its economy, according to Treasury Dept →