OPEC+ Set to Extend Oil Cuts as Meeting Called for Weekend
- OPEC+ has tentative deal with Iraq on compliance with quotas
- Group will hold ministerial meeting Saturday, delegates said
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OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, with the alliance meeting on Saturday to sign off on the deal.
After almost a week of wrangling, the group’s leaders Russia and Saudi Arabia clinched a tentative deal with holdout member Iraq, according to a delegate. The pair were pushing Baghdad to stop shirking its share of cuts and to compensate for past failings.