OPEC+ to resume talks on Monday after UAE roadblock

The standoff could delay plans to pump more oil through the end of the year to cool oil prices.

OPEC+ will resume talks on Monday after failing to reach a deal on oil output policy for a second day running on Friday because the United Arab Emirates blocked some aspects of the pact. The standoff could delay plans to pump more oil through the end of the year to cool oil prices that have soared to two-and-a-half-year highs. Without a deal, the OPEC+ alliance could keep tighter restraints on output with oil prices now trading around $75 a barrel, up more than 40 percent this year. Consumers want more crude to aid a global recovery from the COVID-19 pandemic.