Energy

OPEC+ spat likely to be resolved ‘sooner rather than later’: Analyst

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Conflict in OPEC

An OPEC sign hangs outside the OPEC Secretariat in Vienna, Austria, on Nov. 29, 2017.

Akos Stiller | Bloomberg | Getty Images

Russia is reportedly attempting to negotiate a resolution.

Neil Beveridge, a senior oil analyst at Bernstein, said OPEC policy has been focused on controlling supply to manage prices.

But the UAE sees that peak oil demand is “staring OPEC in the face” and is considering chasing market share instead of high energy prices, he told “Capital Connection” on Thursday, and that’s why it wants to be given a higher quota.

$50 oil versus $100 oil

Observers say two scenarios are possible if OPEC doesn’t reach a new deal. The first is that of a price…



Source cnbc.com

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