OPEC – OPEC Standoff: Resetting market share (Rachel Ziemba, The Interpreter)

The 1 July OPEC meeting ended in deadlock. Although all the major oil producers agreed in principle to collectively boost production by 400,000 barrels per month from August through the end of 2021, they failed to agree on how long the production agreement should last, putting the whole deal on hold. This deadlock represents the latest divide over market share, this time, about how to distribute reopening gains.

OPEC Standoff: Resetting market share (