The grand alliance that’s helped revive global oil markets is being rattled by a long-running feud over members breaking their promises.
Just a day before a proposed gathering on Thursday, the OPEC+ coalition hurriedly backtracked from a meeting intended to green-light an extension of its deepest production cutbacks and prop up crude prices.
Saudi Arabia and Russia -- the leaders of the group -- have lost patience with the errant behavior of the next-biggest member, Iraq, according to people familiar with the matter. While most of the main players are delivering their agreed share of output curbs, Baghdad is once again reneging on its commitments.
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