On Saturday. the OPEC+ alliance ratified its agreement to extend oil production cuts through the end of July. That agreement has a lot of moving parts, and it relies on strict compliance from countries that don’t have a good track record of adhering to quotas. The deal also represents a new, more sophisticated approach by the cartel to proactively control oil prices and, not to spoil the surprise, but they may have finally hit upon a way to keep U.S. shale producers in check as part of it.