, Columnist
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?
Photographer: Anadolu Agency/Anadolu via Getty Images
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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.