OPEC+ Begins Grappling with Next Move as US Presses for More Oil
- Last of the group’s output cuts will be rolled back by August
- Saudis, UAE still weighing options for their spare capacity
A processing department in the Khurais oil field in Khurais, Saudi Arabia.
Photographer: Maya Sidiqqi/BloombergThis article is for subscribers only.
The oil pact OPEC+ launched at the outset of the pandemic is finally nearing an end, and where the group goes from here is a politically fraught question.
By August, the last of the huge oil-output cuts the group made in 2020 will have been rolled back and delegates from the 23-nation coalition say they are now grappling with what comes next.