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.