Failure of OPEC+ talks threatens unity, may cause weak oil prices


An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia.

Simon Dawson | Bloomberg | Getty Images

The collapse of talks between OPEC and its allies highlights the risks of the group’s unity breaking down and renews concerns about a possible oversupply of oil, a commodity strategist told CNBC. 

The energy alliance, referred to as OPEC+, was set to resume talks Monday, but discussions have been called off indefinitely. That comes after the group twice failed to reach a key deal on their oil output policy last week.

The group had sought to increase supply by 400,000 barrels per day from August to December 2021 and…


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