OPEC+ Oil Deal Hangs in the Balance Oil held Thursday’s gain after infighting within OPEC+ delayed a much-anticipated decision on raising output levels, risking an inflationary spike in prices if the group can’t come to an agreement. Futures in New York traded near $75 after jumping 2.4% Thursday. The alliance was forced to postpone a decision on output after the United Arab Emirates blocked a deal. The standoff could ultimately lead to OPEC+ not increasing supply, according to a delegate, which would mean the cartel would fall back on terms that call for production to remain steady until April 2022. Before the breakdown, the alliance appeared to have an agreement in principle to boost output 400,000 barrels a day each month from August to December to meet rising demand as economies recover from the pandemic. OPEC+ ministers will reconvene Friday as the dramatic turn of events leaves the market […]