Skip to content
Subscriber Only

OPEC+ Discusses Compromise Deal After Days of Internal Division

  • Group debates plan to ease cuts gently over several months
  • Ministers seek to patch up rift between Saudi Arabia and UAE
File: Oil In Focus At G20 And OPEC Meeting

Photographer: Simon Dawson/Bloomberg

Updated on

OPEC+ was discussing a proposal to gradually ease its oil-output cuts next year, seeking to resolve divisions that emerged at the core of the cartel over several days of fractious negotiations.

Talks were focused on a proposal for the cartel to add 500,000 barrels a day to the market in January, potentially to be followed by similar-sized supply hikes in subsequent months, delegates said. That would modify the current deal, which allows supply to jump by 1.9 million barrels a day from Jan. 1.