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OPEC+ Locks in Tight Supply for August With Stalemate Unresolved

  • Delegates see little sign of compromise in Saudi-UAE dispute
  • Next month’s supply already allocated, little scope for change
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Photographer: Simon Dawson/Bloomberg

One week after OPEC and its allies abandoned their meeting in acrimony, the window for an August oil-production increase is closing without any deal in sight.

Regardless of the desire of other cartel members for a compromise, there’s little sign that Saudi Arabia and the United Arab Emirates have made progress in resolving a dispute over how their production cuts are measured, delegates said.