OPEC+ Talks Delayed as Split Deepens Between Key Gulf Allies
- Meeting of OPEC+ ministers postponed to Thursday from Tuesday
- Tensions grow with the UAE, once a stalwart Saudi ally
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OPEC+ talks were delayed for two days to give ministers more time to reach a deal, after a long and tense meeting on oil production broke down without an agreement.
The move, set out in a letter seen by Bloomberg, was the most dramatic sign yet of the deep division inside the cartel after hours of talks on Monday yielded no result. Oil prices, which have rallied on vaccine hopes as well as expectations that OPEC will maintain its current output curbs, slipped on the news.