NEW YORK: Oil prices steadied on Friday after OPEC+ ministers resumed talks on raising oil output the day after the United Arab Emirates blocked a deal, which could delay plans to pump more oil through the end of the year.
The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, are meeting again after UAE opposed the proposals, saying it wanted its quota to be higher, sources said. The long rally in prices could be undermined if OPEC+ nations go their separate ways and add to supply as they see fit.