Energy

Saudi Arabia, UAE in focus over oil output policy

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Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud speaks via video link during a virtual emergency meeting of OPEC and non-OPEC countries, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia April 9, 2020.

Saudi Press Agency | Reuters

LONDON — Oil producer group OPEC will resume talks on Monday with non-OPEC partners, seeking to broker a deal on crude output after the group unexpectedly failed to reach an agreement last week.

The energy alliance, often referred to as OPEC+, on Friday voted on a proposal to increase oil production by roughly 2 million barrels per day between August and the end of the year in 400,000 barrels per day…



Source cnbc.com

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