OPEC discord could unleash a new level of volatility in oil market
Disagreement within OPEC could trigger a more a volatile period for oil, with prices jumping on lack of new supply or sinking suddenly if member countries decide to release crude independently.
Oil prices initially surged to a six-year high on news that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, ended their meeting Monday with no action and no new meeting date. A proposed plan by OPEC, Russia and other allies to bring 400,000 barrels a day back to the market was disrupted by the United Arab Emirates’ objection to other aspects of the deal.
[https://www.cnbc.com/2021/07/06/opec-discord-could-unleash-a-new-level-of-volatility-in-oil-market.html](https://www.cnbc.com/2021/07/06/opec-discord-could-unleash-a-new-level-of-volatility-in-oil-market.html)
https://www.reddit.com/r/StockMarket/comments/of834o/opec_discord_could_unleash_a_new_level_of/
