Impasse between Saudi Arabia and the Emirates exacerbates crisis in OPEC+

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The tension between the Saudi Arabia and the United Arab Emirates given the impasse in the negotiations of the Opep. With the unusual diplomatic dispute between former allies, the global market is trying to guess how much oil will be produced next month.

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The confrontation has already forced Opep + to suspend negotiations twice. The next meeting is scheduled for this Monday and puts markets in limbo while the Petroleum continues its high inflation over $75 a barrel. The cartel assesses the production policy not only for the rest of the year, but also until 2022, and the solution to the impasse will shape the market and the sector in the next year.

The increasingly personal dispute between the two top producers became public on Sunday. The two countries, which normally maintain their differences within the royal palaces, exposed their differences.

The Riyadh government insists on its plan, which is supported by other OPEC+ members such as Russia, for the group to increase production in the coming months, but also extend the pact until the end of 2022 for the sake of stability.