OPEC+ Makes Deal to Boost Output as Gulf Allies Call Truce

Gradual supply increases keep the cartel in control of market
Dispute between Saudis and UAE resolved by compromise

WATCH: OPEC and its allies reached an agreement to inject more oil into the recovering global economy. (Source: Bloomberg)

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By Javier Blas, Salma El Wardany, Grant Smith, and Dina Khrennikova

July 18, 2021 at 3:12 PM UTC

Updated on

July 19, 2021 at 7:45 AM UTC

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OPEC and its allies struck a deal to inject more oil into the recovering global economy, overcoming an internal split that threatened the cartel’s control of the crude market.