OPEC and allied oil producers including Russia are deciding how much crude to pump to the world Thursday, with expectations for only a modest increase despite pleas for more. High oil prices are fueling inflation in the U.S. and other countries and cushioning the blow of Western sanctions over Russia's invasion of Ukraine.
Analysts expect the group, known as OPEC+, to stay on its schedule of gradual increases to restore production cuts made during the depths of the coronavirus pandemic in 2020.
