LONDON—OPEC+ said on Monday it would stick to an existing pact for a gradual increase in oil output, sending crude prices to three-year highs and adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic.
The Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, have faced calls for from big consumers, such as the United States and India, for extra supplies after oil prices surged more than 50 percent this year.
