The Organization of the Petroleum Exporting Countries and its allies, including Russia, agreed Sunday to further relax curbs on oil production in the face of rising demand and soaring prices. Under the deal, announced following a virtual meeting of OPEC+ energy ministers, production will rise by 400,000 barrels a day each month beginning in August and would eventually undo all of the curbs put in place last year in response to the COVID-19 pandemic.
OPEC+ agreed in April of last year to cut output by nearly 10 million barrels a day following a devastating one-month price war between Saudi Arabia and Russia …
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