OPEC+ Ignores Biden, Keeps Output Plans Unchanged ...Middle East

The September meeting of OPEC+ today wasn’t expected to erupt in vehement disagreements. Unlike the last meeting, when a rift between Saudi Arabia and the UAE caused worry that the cartel was on the verge of a breakdown, now, members of the oil-producing group seem to be in general agreement on the next steps.  But the outcome of the meeting is no less important for the oil market.  Last month, President Joe Biden, in stark contrast to his energy transition agenda, called on OPEC to boost production by more than the agreed 400,000…

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