Posted on

Oil Nations Again Fail to Reach Deal as U.A.E. Demands Higher Quota



Share

OPEC, Russia and other major oil producers failed to reach an agreement on proposed production increases on Monday — a third straight day of scheduled meetings without a deal.The main sticking point has been the insistence of the United Arab Emirates, an important OPEC member, on a revision of its output quota. Efforts at mediation did not make enough progress for Monday’s meeting to even begin. OPEC said in a news release that the timing of its next meeting would be “decided in due course.”Some analysts say that OPEC Plus, the 23-nation alliance of oil producers, will likely …

Read More