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OPEC+ Struggles with Internal Differences at Critical Meeting

  • OPEC+ is deliberating further production cuts this weekend in the face of sustained low oil prices and an uncertain economic outlook.
  • There are conflicting signals within OPEC+ regarding the size and scope of potential cuts.
  • The UAE in particular has pushed for a larger quota, putting it at odds with Saudi Arabia and complicating an agreement.
  • While Russia and Saudi Arabia have warned oil speculators, analysts don't expect major changes to the current pact.
  • Any changes OPEC+ makes will depend on whether demand recovers significantly in major economies like China.
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