Skip to content
Julian Lee

OPEC Is Letting the Oil Bears Play

The void created by the rift between Saudi Arabia and the UAE makes room for speculation of a coming price war.

Room for compromise?

Room for compromise?

Photographer: Anadolu Agency/Anadolu via Getty Images

Oil producers beware. Far from being bullish for prices as initially thought, the rift at the heart of OPEC and the information vacuum it has created risks sending them into a tailspin.

When the 23-nation OPEC+ oil producer alliance repeatedly failed to reach an agreement to raise production earlier this month, the concern in the market was that the world would be short of oil.