Oil prices hover above $75 as OPEC+ struggles to reach a deal. Here’s why it matters
Energy prices are hovering above the $75 level after OPEC and its allies could not reach a key deal on their oil output policy last week, amid rising tensions between Saudi Arabia and the UAE.
The energy alliance, often referred to as OPEC+, will meet again on Monday after failing to reach a deal twice last week.
If OPEC+ fails to reach a deal to increase output, prices could skyrocket.
2021-07-05