The Wall Street Journal
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Why OPEC+ Is a Big Winner of Russia’s War in Ukraine
Posted
July 7, 2022
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4:57Now PlayingHigh oil prices have been beneficial for members of OPEC+, an alliance of oil-producing countries, includes Saudi Arabia and Russia, that controls more than half of the world's output. Because of soaring oil prices due to Moscow’s invasion of Ukraine, some OPEC+ countries are raking in billions of dollars more in revenue than expected.
Here’s what OPEC+ countries like Iraq and the UAE are doing with the windfall, and why they aren’t likely to distance themselves from Russia.
I’m Shelby Holliday, a reporter for WSJ, and I’m digging deeper into news stories that are having a powerful and sometimes surprising impact on our lives and the communities in which we live. Join me as I report on the events and trends shaping our world by subscribing to the channel.
#OPEC #Russia #ShelbyHolliday
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