OPEC+ to decide oil output to world amid high inflation

CATHY BUSSEWITZ
AP Energy Writer

The OPEC oil cartel and its allies are meeting to decide how much oil to produce in September. They’re meeting amid high oil prices and unstable energy supplies exacerbated by the war Russia is waging on Ukraine. The group also is considering Wednesday what effects staggering inflation and rising COVID-19 rates may have on global demand for fuel in the fall, with gasoline prices at the pump still high. The OPEC+ group has curtailed production during the pandemic as oil prices and demand plummeted. Those cuts are due to expire in September. The group has been gradually adding more oil and gas to the market as economies recovered.