OPEC+ cancelled its Oil output talks after the UAE requested different terms. The decision helped push Oil prices near three-year highs.
Oil prices rose ahead of Tuesday’s OPEC+ meeting. The alliance is expected to add 840,000 barrels per day by the end of July.
Oil dipped on Monday morning after OPEC+ agreed to gradually ease output cuts between May and July 2021.
OPEC+ meets today to determine the upcoming Oil market supply after several months of reduced production. Oil prices surged on high demand and a record drop in the U.S. fuel supply.
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