Skip to content
Subscriber Only

OPEC+ Fails to Reach Output Deal With Talks Kicked to Monday

  • Negotiations to resume next week after two days of talks fail
  • UAE’s objection to OPEC+ accord extension blocks supply deal
Oil Storage Tanks As OPEC+ Meet For Output Showdown
Photographer: Andrey Rudakov/Bloomberg
Updated on

OPEC and its allies abandoned oil-supply negotiations until Monday as a rebellion by a key member threatened the unity of the alliance.

Talks ended without a deal to increase output after the United Arab Emirates stuck to demands for better terms. The impasse -- which had already pushed discussions into a second day -- risks upsetting the cartel’s management of the oil market’s post-pandemic recovery just as consumer nations fret about the impact of higher prices.