OPEC+ is set to resume talks today following a day of digging in by the UAE, which opposes as “unfair” the latest production control proposal to extend the cuts until the end of 2022 without baseline adjustments, and a Saudi challenge on Monday morning. The UAE is seeking an update to the individual quotes for OPEC+ members based on their “current production capacity”, with the Associated Press reporting that UAE recognizes that the oil market is in “dire need of higher production”. However, while the UAE is…
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