The leaders of OPEC+ gave fellow members an ultimatum: stop cheating on oil-output quotas or the strict measures that have revived oil prices may start to be phased out. Saudi Arabia and Russia have reached a preliminary agreement to extend production curbs for an extra month. But it’s conditional on securing new commitments from other members that they will stick to what’s agreed and also make up for past non-compliance with additional cuts, according to people familiar with the matter. Their hard line stance injects greater uncertainty into the oil market, and pushed international crude prices lower on Wednesday just hours after they rose above $40 a barrel for the first time since the pandemic. OPEC+ uncertainty pushed crude back […]