#Saudi-#UAE still at impasse as #Russia steps in to rescue OPEC+ deal | Reuters

Saudi-UAE still at impasse as Russia steps in to rescue OPEC+ deal | Reuters

Russia is leading efforts to close divisions between Saudi Arabia and the United Arab Emirates to help strike a deal to raise oil output in coming months, three OPEC+ sources said, with OPEC and its allies yet to set a date for their next oil policy meeting.

Disagreement between the two Gulf OPEC allies was publicly exposed last week, with Riyadh and Abu Dhabi at odds over a proposed deal that would have brought more oil to the market -- potentially cooling a rally that has seen prices hit 2-1/2 year highs.

The rare spat forced the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, to abandon talks on boosting production after days of negotiations. read more

The producers have said they will decide on a date for a new meeting in due course, giving no signal whether any compromise might be possible in the coming days.