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OPEC+ Proposes Mid-July Meeting to Settle Dispute Over Dates

  • Russia-Iran talks make some progress on resolving standoff
  • Delegates say it's unclear if July 10-12 works for all members
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OPEC Faces 'Major Challenge' Keeping Oil Price at Suitable Levels: IEA
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OPEC proposed mid-July meetings with its allies in Vienna to discuss extending production cuts, after talks between Russia and Iran made some progress toward resolving a standoff over the date.

The oil producers group, which pumps more than half the world’s crude, has been bickering for a month about the timing of ministerial talks. Their failure to agree a date just weeks before their production cuts expire gives turbulent markets little reassurance as crude prices extend their slump.