OPEC+ yet to make progress in resolving impasse preventing deal: Sources
MOSCOW/LONDON (Reuters) – OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely, OPEC+ sources said.
Russia has been working behind the scenes to bring Riyadh and Abu Dhabi back to the table to find a path to agreement, sources told Reuters. But a Russian source said on Monday a meeting this week was not expected.
A dispute between the two Gulf OPEC allies was exposed last week, scuppering for now a deal that would have boosted output from August. Oil prices, already near their highest since 2018 due to a tightening market, rose further on the lack of a deal.
