OPEC+ decides oil output amid concern over Russia, Ukraine

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — Major oil-producing countries are deciding how much crude to pump to the world next month. The decision Wednesday will be closely watched because oil prices are at seven-year highs and have spiked fuel costs for heating, flying and driving. Fears of a possible Russian invasion of Ukraine are adding to concerns about supply because Russia is a major oil producer and could be hit with sanctions by the U.S. and Europe. Analysts think the 23-member OPEC+ alliance will stick with its plan to add 400,000 barrels per day every month. That could support prices that are now just under $90 per barrel as some countries fall short on their share of output.