OPEC+ Meeting Rescheduled After Talks Stall On Monday

Photo: Tori Li

A regularly scheduled OPEC+ meeting ended on Monday without an agreement among its members regarding the production cuts next year..

The cartel meeting ended with Russia, Saudi Arabia, and the UAE taking different positions as to how to handle production rates over the next year.

The meeting with OPEC+ cartel meeting was supposed to resume on Tuesday, but announcement came later saying that the meetings had been rescheduled to December 3 because more talks are needed.

Russia, the country that led to the global crisis in March is believed to favor a gradual increase in production starting in January. But they have been known to change their minds in the past.

The UAE caused a stir last week after their state-run oil company, ADNOC, indicated that they might be questioning their OPEC membership.