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Saudi, United Arab Emirates reach compromise to unlock oil supply

Brent oil prices fell on the news by as much as $1 per barrel towards $75 per barrel after Reuters reported the two major Opec producers had agreed a deal.

Topics
oil and gas | Saudi Arabia | United Arab Emirates

Rania El Gamal | Reuters  |  Dubai/London 



Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahyan (right) with Saudi Crown Prince Mohammed bin Salman. Photo: Reuters
Abu Dhabi’s Crown Prince Sheikh Mohammed bin Zayed al-Nahyan (right) with Saudi Crown Prince Mohammed bin Salman. Photo: Reuters

and the have reached a compromise over Opec+ policy, an Opec+ source said on Wednesday, in a move that should unlock a deal to supply more crude to a tight oil market and cool soaring prices.

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First Published: Wed, July 14 2021. 23:43 IST

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