The lack of a major reaction in the market is convincing the Saudi and UAE camps to stick with the standoff

A tweet by oil market correspondent, Amena Bakr:

There appears to be less urgency to unwind the opec plus deadlock, especially as prices didn't dramatically move up. #OOTT #opec

And so the drama continues then. In any case, the bloc will be rolling over the 5.7 million bpd worth of output cuts going into August.