Oil-producing countries are seeking price support through production cuts, creating a divide with oil-consuming countries and delaying a global economic recovery. The April announcement by OPEC+ members led by Russia, which agreed to pump less oil, initially boosted prices, but weakened demand has brought it back down. The discord between oil buyers and sellers could force central banks to maintain higher interest rates for longer, and create volatility in reserve holdings and production from alternative places. Meanwhile, emerging economies such as India face an uncertain recovery path due to the outbreak of hostilities.