OPEC+ members to meet again to try to resolve row

OPEC

After failing last week, the 23 members of the OPEC+ group of oil producers will try again Monday to reach agreement on how much crude to put on the market. Since May, the group has raised oil output little by little, after slashing it more than a year ago when the coronavirus pandemic crushed demand. The current proposal is to increase output each month from August to December by 400,000 barrels per day (bpd), providing oil markets with an additional two million bpd by the end of the year. But it is the suggestion of extending the agreement on incremental increases until the end of 2022 that has caused a hitch.