Saudi Arabia’s national oil company reported record quarterly profit on high oil prices, feeding a vault of cash the kingdom’s young ruler is using to build new momentum for reforms and strengthen his geopolitical position
High oil prices are boosting Saudi Arabia’s economy as its de facto ruler shakes off years of Western isolation
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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