OPEC+ Sets Date for Meeting, Ending a Month of Bickering - Bloomberg:
OPEC+ agreed to hold its next meeting to discuss oil-output cuts on the first two days of July, resolving a monthlong dispute that highlighted divisions within the group.
The compromise date, proposed on Tuesday by OPEC’s current president Venezuelan Oil Minister Manuel Quevedo, was posted on the group’s website on Wednesday, indicating all members were in agreement.
The producers group, which pumps more than half the world’s crude, has been bickering for a month about the timing of ministerial talks in Vienna. Their failure to agree a date just weeks before their production cuts expire added to the turbulence in markets, which also face the threat of conflict in the Persian Gulf and growing signs of a demand slowdown.
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