Why Saudi Arabia Is Likely To Win The OPEC+ Standoff

OPEC+ could take until August to decide whether to adjust production baselines, Arab News reported, citing JP Morgan analyst Christian Malek. According to Malek, the oil cartel could take up to six weeks to decide on its next steps. “In the end, we expect Saudi to get its way,” Malek wrote in a note to clients, adding “The proposal led by Saudi and Russia of an increase of 400,000 barrels per month starting from August (until reaching the April 2020 reference production level) has yet to be endorsed by the UAE, despite the fact…