OPEC+ Finds Its Way to an Exhausting Compromise on Oil Cuts
- Days of tense talks yield deal on gradual output boost
- Saudi energy minister says process was excruciating, tiring
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After five days of difficult talks that exposed new rifts between core members, OPEC+ agreed to gently ease output cuts next year. The deal appeared to satisfy the oil market and most of the cartel’s members, but strained the group’s unity and set up testing times ahead.
Saudi Energy Minister Prince Abdulaziz bin Salman, de facto leader of the group alongside his Russian counterpart, was frank that the deal was hard-won.