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Saudi Arabia and United Arab Emirates are in the boxing ring OPEC+ announced that it quits on a production deal. Problem between the long-time allies saw WTI crude soar another 2% to near $77/bbl, further squeezing an already tight oil market and raising concerns over inflation.[1] OPEC and its allies could not agree and make a key deal on their oil output policy last week. Abu Dhabi is forcing the group to accept risk unraveling the alliance. Crude prices could make an outsized move in either direction
