OPEC+ delays meeting to Friday as UAE objects to oil deal
Al Jazeera
Crude rose about two percent on word of modest OPEC+ hikes amid surging demand, but the OPEC+ deal now hangs in the balance after a key member objected to the deal.
Oil prices continued to climb on Thursday as press reports suggested that OPEC+ is considering a two-million-barrel-per-day (bpd) output hike from August through December – but the deal was thrown into disarray after the United Arab Emirates blocked a plan for an easing of cuts and their extension to the end of 2022. Global benchmark Brent climbed $1.23, or 1.7 percent, to $75.85 a barrel by 12:38pm EDT (16:38 GMT). United States West Texas Intermediate (WTI) crude gained $1.65, or 2.3 percent, to $75.12.More Related News