OPEC+ deadlock: What UAE-Saudi Arabia tussle means for oil markets

Last Updated: Jul 06 2021 | 1:14 PM IST

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Brent crude futures zoomed past $77.5 a barrel-mark on Tuesday, after OPEC+, on Monday, called off its meeting unexpectedly. This comes after the UAE rejected a proposal by the alliance on increasing oil production. What does this episode mean for the oil markets? Vandana Hari, Founder & CEO of Vanda Insights, a Singapore-based provider of oil markets macro-analysis, explains it in detail. Watch the video