Is Opec+ fraying at the edges?
CITY A.M.
As the Opec summit gets underway in Vienna, there are signs that the consensus about overproduction levels may be fading.
The UAE and other major producers have indicated frustration at the current state of production. They see Saudi Arabia and Russia, two of the world’s largest producers, determining energy policy bilaterally, apart from the rest of the members.
While the Opec+ agreement helped limit the damage facing oil-producing countries this year, it has left some worse off than others. The fear is that, should a more equitable arrangement not be found at this summit, countries may start to abandon the deal.
