The odds of an OPEC+ meeting this week look increasingly unlikely as the group has failed to make progress in resolving the differences between key OPEC members Saudi Arabia and the United Arab Emirates (UAE), which resulted in a failure to decide future production levels last week, sources at OPEC+ told Reuters on Monday. The UAE blocked a deal on OPEC+ raising oil production from August, making any agreements contingent on revising the “unfairly low” Emirati baseline from 2018. Despite mediation, consultations, and side talks in the…
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