OPEC+ Shows No Sign of Healing Rift Just Before Talks Resume

Oil producers’ group scheduled to meet at 3 p.m. Vienna time
Bitter split between Saudi Arabia and UAE remains unresolved

WATCH: Saudi Energy Minister Prince Abdulaziz bin Salman insists that OPEC+ must extend its production agreement to the end of next year.(Source: Bloomberg)

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By Salma El Wardany, Grant Smith, Javier Blas, and Dina Khrennikova

July 5, 2021 at 11:19 AM UTC

Updated on

July 5, 2021 at 12:25 PM UTC

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Just hours before the resumption of talks, OPEC+ still hadn’t resolved the increasingly bitter split between Saudi Arabia and the United Arab Emirates that’s blocking an oil-output deal.

The dispute leaves the global economy stranded in uncertainty -- with little indication of whether the cartel will pump more crude to ease an inflationary price surge, or allow crude to extend its rally above $75 a barrel.