Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).

World Business Watch: Oil falls more than 1% after OPEC+ agrees to boost supply

World's major oil producers agreed on Sunday to continue to boost output modestly from August. An Opec+ meeting agreed to raise output by 400,000 barrels per day (bpd) each month from August, the Vienna-based group said in a press statement.

Major oil producers agree on modest output boost from August

Brent oil rose above $77 a barrel for the first time since 2018 after OPEC+ failed to reach an agreement on bringing back curtailed output, leaving the market with tighter supplies than expected.

World Business Watch: Brent oil jumps $77 after OPEC+ fails to reach output deal

Twenty three members of Organisation of the Petroleum Exporting Countries (OPEC+) called of the meeting planned on Monday to overcome the impasse on crude oil output levels, said AFP citing sources.

OPEC+ postpones meeting over oil output impasse, new date not set

OPEC+ will resume talks on Monday after failing to reach a deal on oil output policy for a second day running on Friday because the United Arab Emirates blocked some aspects of the pact.

OPEC+ to resume oil policy talks on Monday after UAE roadblock

As producers balance expectations of a recovery in demand against a possible increase in Iranian supply, OPEC+ is likely to stick to the existing pace of gradually easing oil supply curbs at a meeting on Tuesday.

World Business Watch: OPEC+ likely to stick with current supply plan, sees orderly Iran return

The OPEC group of oil-producing countries and its allies look set to boost production further when they meet on Tuesday, as pandemic-hit demand for crude recovers.

OPEC and allies set for another crude output increase

OPEC reiterated its 2021 forecasts for world oil demand on Tuesday, as it nudged its predictions for global economic growth higher.

OPEC reiterates global oil demand forecast for 2021

Jihadists on Wednesday killed a policeman before blowing up two oil wells in Kirkuk, a northern province claimed by both Iraq's federal government and the Kurds, officials said.

IS 'blows up' Iraq oil wells, kills policeman: Officials

Oil prices have went down in early Asian trade on Monday after OPEC+ agreed last week to gradually ease some of its production cuts between May and July.

World Business Watch: Oil prices slip after OPEC+ agree to ease output cuts

OPEC and its allies, including Russia, announced Thursday they would gradually increase oil production over the next three months. In agreeing to modest output increases, Saudi Arabia appears to have yielded to pressure from Russia and other producers who are eager to raise output.

OPEC and its allies agree to gradual increases in oil production

Crude prices rose on Thursday, recouping some of the previous session's losses on expectations that a meeting of OPEC and its allies later on Thursday (April 01) would yield output constraint in the face of resurgent COVID-19 infections in some regions.

World Business Watch: Oil gains ahead of OPEC+ meet on output policy

Oil prices rose on Thursday on optimism over a U.S. government spending plan and hopes that OPEC and its allies will keep production curbs in place when they meet on Thursday.

Oil up as OPEC+ meets to decide on production policy

Investors are shifting focus to the upcoming OPEC+ ministerial meeting that is happening this Thursday (01 April). Analysts expect the group to extend supply curbs given dim demand prospects.

World Business Watch: Analysts expect OPEC+ to extend supply curbs

OPEC has said a recovery in oil prices and demand will be focused on the second half of the year as the impact of the COVID-19 lingers as a headwind for a group and its allies in supporting the market.

World Business Watch: 2021 oil demand recovery in second half

According to reports, Iran has quietly moved record amounts of crude oil to top client China in recent months, while India's state refiners have added Iranian oil to their annual import plans on the assumption that US sanctions on the OPEC supplier will soon ease.

Reports: Iran slips record volume of oil into China, reaches out to Asian clients

A decision by OPEC+ to continue with an output cut would undermine consumption-led recovery and hurt consumers in oil buying nations, Indian oil minister Dharmendra Pradhan told Reuters on Friday.

India says OPEC+ decision to hit consumption-led recovery, hurt customers

A group of major oil producers has agreed to extend production cuts for another month despite a recent price surge. OPEC and its allied producers said that they would largely roll over production cuts during the month of April.

World Business Watch: Oil prices surge as OPEC and its allies extend production cuts

Global oil prices jumped higher after the organisation of the petroleum exporting nation's OPEC and its allies agreed to extend most oil output cuts into April.

OPEC and its allies extends output cuts into April

A group of some of the world’s most powerful oil-producing nations will discuss the next phase of production policy today.

WION Fingerprint: OPEC and Russia will discuss raising oil production in today's meet

Saudi Arabia is considering extending its voluntary oil production cuts by one month into April, an OPEC+ source said on Thursday as the kingdom and Russia said oil markets recovery was still fragile.

Saudi Arabia offers to extend oil cuts as OPEC+ weighs rollover

Economic recovery is leading to weakening the prices of crude oil and this has become the major factor. Considering the same, OPEC+ will be holding a meeting discussing the crucial issues.

World Business Watch: Dramatic decrease in oil post Saudi Arabia cuts

Public debates about China’s Middle East policy are as much internal Chinese discussions as they are indications of where Beijing’s thinking is going and efforts to nudge countries like Saudi Arabia and the United Arab Emirates to accommodate potential policy changes.

Subtly, China pressures Gulf states to reduce regional tensions

A panel of OPEC+, a group of leading oil producing countries, will hold informal online talks on Saturday prior to meetings scheduled for next week. According to Reuters, OPEC+ is debating whether to ease oil output cuts from January 1, as it previously agreed, or to continue producing at the same rate amid sluggish oil demand and fallout from the coronavirus pandemic.

OPEC+ panel to hold informal online talks on Nov 28

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