OPEC+ Weighs Mid-July Meeting to Settle Dispute Over Dates - Bloomberg

OPEC+ Weighs Mid-July Meeting to Settle Dispute Over Dates - Bloomberg:

OPEC and its allies shifted focus to mid-July for the next meeting to discuss extending production cuts, after talks between Russia and Iran made some progress toward resolving a standoff over the date.

The oil producers group, which pumps more than half the world’s crude, has been bickering for a month about the timing of ministerial talks. Their failure to agree a date gives turbulent oil markets little reassurance about the future of production cuts, just as crude prices extend their slump.

After discussions with his Russian counterpart, Iran’s Oil Minister Bijan Namdar Zanganeh said he was willing to hold a meeting on July 10 to 12. While this marked some progress from his previous insistence that the group should get together next week, it was unclear whether it would resolve the impasse.