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OPEC+ Emerges From 2020 Chaos to Face Delicate Balancing Act

  • Group shifts to monthly meetings to fine-tune output policy
  • Russia supports another supply boost, but Saudi stance unclear
Russian Oil Fields Ahead of 180th OPEC Meeting
Photographer: Andrey Rudakov/Bloomberg
Updated on

As one of the most tumultuous years in oil’s history ends, a delicate task now confronts OPEC+.

The alliance of producers led by Saudi Arabia and Russia must decide whether it can continue to restore crude supplies without capsizing the price recovery they spent most of 2020 working to achieve.