OPEC+ postpones meeting to end oil output impasse, no new date set ...Qatar

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After failing last week to agree on crude oil output levels, the 23 members of the OPEC+ group of producers called off a meeting planned on Monday to overcome the impasse, a source close to the alliance told AFP. No new date was given for them to reconvene. Since May, the group has raised oil output little by little, after slashing it more than a year ago when the coronavirus pandemic crushed demand. At stake is the current proposal that would see the world's leading oil producers raise their output by 400,000 barrels per day (bpd) each month from August to December. That would add a further two million bpd to markets by the end of the year, helping to fuel a hoped-for recovery in the glob

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