OPEC+ abandoned efforts to break a deadlock within the cartel for a second night, increasing the risk its failure to act will unleash an inflationary spike in oil prices. Friday’s ministerial meeting ended without a deal as positions remained entrenched, with the United Arab Emirates still blocking a proposal to increase supply, delegates said. Negotiations will continue on Monday. Failure to agree on raising output would squeeze an already tight market, potentially sending oil prices sharply higher. Although most OPEC+ members back a proposal to add 400,000 barrels a day from August to December — and push back the expiry of their broader supply deal — the UAE remains staunchly opposed, according to delegates. The clash risks tarnishing the reputation of unity that the cartel has fought hard to preserve since it rescued […]