UAE:

20.11.2020

The UAE has expressed dissatisfaction with its quota to reduce oil production under the OPEC+ agreement, amid growing tensions over a possible increase in quotas.

UAE officials have not publicly given any indication that the producer is discussing its OPEC membership. However, according to Bloomberg, officials privately shared the idea that the country is considering leaving the OPEC+ Alliance.

Over the next two weeks, the group will need to decide whether to continue the production increase stipulated in the April deal or postpone it. So far, Riyadh and Moscow have signaled that they are willing to delay production increases as the pandemic continues to erode demand.

Most OPEC+ members are inclined to believe that now is not the right time to further reduce oil production.


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Saved: 29.01.2023




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