After weeks of confusion over Russia’s push to change the dates of the Opec+ meeting, an agreement was finally reached on 19 June – just six days before the original dates of 25-26 June. Opec will now meet on 1 July, with the Opec+ meeting taking place on 2 July.

Reports suggested that Russia wanted the dates pushed back to after the 28-29 June G20 meeting in Japan – Opec kingpin Saudi Arabia agreed. Opec’s other members mostly fell in line. But Iran dissented, unwilling to give in to pressure from its rival the Saudis. In the end, the apparent power play resulted in a compromise. But non-Opec member Russia once again proved that it is far more central to Saudi-driven market management efforts than possibly all other Opec members. (CONTINUED - 127 WORDS)