OPEC and Russia Will Ponder Oil Output Under Pressure From Biden.

Big oil producers decided to stick with a scheduled increase, rejecting calls for a bigger boost in production.

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OPEC and Allies Hold the Cards as Prices and Demand Rise

In the short run, trends in the oil market may be favoring large producers like Saudi Arabia and Russia.

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Saudi Arabia Will Cut Its Oil Production, Allowing Russia’s to Grow

Oil prices rose to levels not seen since February. The two major oil producers had been moving in lock step since an April agreement to cut output.

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OPEC and Russia May Ease Oil Production Cuts

As lockdowns ease, the Saudis and their allies see room to increase their output. But the spread of the virus “is casting a shadow” over their plans.

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