Shelby Holliday – OPEC+ Is a Big Winner of Russia’s War in Ukraine. Here’s Why.

Soaring oil prices in recent months due to Moscow’s invasion of Ukraine mean some OPEC+ countries have raked in billions of dollars more in revenue than expected

By Shelby Holliday

High oil prices have been beneficial for OPEC+, an alliance of oil-producing countries that controls more than half of the world’s output. WSJ’s Shelby Holliday explains what OPEC+ countries are doing with the windfall and why they aren’t likely to distance themselves from Russia. Illustration: Adele Morgan

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