OPEC+ calls off meeting as UAE, Saudi spat continues

OPEC+ sources said there had been no progress in resolving the matter and Monday’s meeting was called off, with no new date agreed upon.

OPEC+ ministers called off oil output talks on Monday after clashing last week when the United Arab Emirates balked at a proposed eight-month extension to output curbs. Saudi Energy Minister Prince Abdulaziz bin Salman on Sunday called for “compromise and rationality” to secure a deal after two days of failed discussions last week. But on Monday, OPEC+ sources said there had been no progress in resolving the matter and Monday’s meeting was called off. No new date was agreed.