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Vitol Sees Oil Rising on Assumption OPEC+ Steps Will Fall Short This content was published on July 4, 2021 - 08:27 July 4, 2021 - 08:27 (Bloomberg) The world’s largest independent oil trader expects crude’s rally to continue on the assumption any OPEC+ output hikes will fail to keep pace with growth in demand. The Organization of Petroleum Exporting Countries and its allies are deadlocked over a potential ramp-up in production and an extension of their supply deal into later next year. While the group is broadly in agreement over adding 400,000 barrels a day each month for the rest of this year, the United Arab Emirates has not signed off amid a dispute over its production-cuts baseline.

Saudi arabiaUnited arab emiratesAamir khanMike mullerSaudi national bankBloomberg television onStakes oil diplomacy putsVitol groupOrganization of petroleum exporting countriesPetroleum exporting countriesHigh stakes oil diplomacy puts futureBloomberg televisionசவுதி அரேபியாஒன்றுபட்டது அரபு அமீரகங்கள்அமீர் காந்மைக் முல்லர்