What’s next for oil prices as OPEC+ deadlocks, with more talks set for Monday

The Organization of the Petroleum Exporting Countries and its allies, including Russia, had appeared on track Thursday to approve a proposal that would further ease existing crude oil output curbs by an additional 400,000 barrels a day each month from August through December — adding another 2 million barrels a day of production by the end of the year. The proposal also called for delaying the expiration of the underlying agreement on supply cuts from April 2022 until December 2022. But the plan was thrown into disarray, news reports said after the United Arab Emirates raised objections during a meeting of the OPEC+ advisory panel on Thursday.

 

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