July 2, 2021

LONDON — OPEC and non-OPEC ministers finished Friday’s meeting without a resolution and they will meet again on Monday on oil output policy, CNBC’s Brian Sullivan reported.

The energy alliance, often referred to as OPEC+, met via videoconference on Friday afternoon to decide on whether to keep output policy unchanged or to ramp up supply further.

OPEC+ except for the United Arab Emirates agreed to an easing of cuts and their extension to the end of next year, according to Reuters citing an OPEC+ source. The UAE said the extension is conditional to revising its baseline production, Reuters reported.

Read more:

https://www.cnbc.com/2021/07/02/opec-meeting-oil-output-policy-decision-in-focus-as-prices-rise.html