OPEC+ resumes oil policy talks amid Saudi-UAE standoff

OPEC+ ministers resume talks on Monday after failing to reach a deal on oil output policy in two days of talks last week amid a rare public standoff between Gulf allies Saudi Arabia and the United Arab Emirates.

The spat erupted at a sensitive time for the oil market and could delay plans to pump more oil through to the end of the year to cool global oil prices that have soared to 2-1/2 year highs. Brent was trading around $76 on Monday.