Pressured by Biden, OPEC+ meets to decide oil production

By DAVID McHUGH and JOSH BOAK
Associated Press

FRANKFURT, Germany (AP) — The oil-producing alliance known as OPEC+ is meeting to decide how much oil to pump. U.S. President Joe Biden has been calling for faster increases to make up for production cuts during the coronavirus pandemic. But chief OPEC member Saudi Arabia and the biggest non-member in the alliance, Russia, have stayed with a slow and steady pace of adding 400,000 barrels per day back to the market each month as the global economic recovery and demand for fuel pick up. They have taken that approach to support prices that collapsed during the depths of the pandemic and have since surged to seven-year highs.