OPEC+ nations postpone oil talks until July 5

The OPEC+ ministerial talks were put on hold on Friday and will resume on Monday, July 5, the OPEC secretariat said in a statement, TASS reported. 

The issue that was not resolved during the three-day consultations is related to the UAE demand to review parameters of the oil output reduction agreement. The country is ready to approve the agreement’s extension beyond April 2022 and the oil production increase by 2 million barrels per day only on those terms.


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