OPEC+ ministers set to meet July 5 to resolve impasse Saudi and UAE disagree over extension of current pact Iraq is OPEC’s second biggest producer Iraq supports the proposal to increase OPEC+ production between August and December and backs the extension of the output cuts agreement till the end of 2022, the country’s oil minister said July 4, as ministers prepare to meet to resolve an impasse spilling over from last week’s meeting. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The OPEC+ coalition was set to agree last week to boost collective crude output by 400,000 b/d each month from August to December and extend their supply management agreement through the end of 2022. But the UAE has stymied the agreement by insisting its baseline production level from which its quota is determined should be raised, which other countries have said is unfair, […]