UAE denies participation in discussions on changing OPEC+ deal
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The UAE is not participating in discussions on changing the OPEC+ deal, said Energy Minister Suheil al-Mazrui. This is how he reacted to information The Wall Street Journal that the parties are discussing an increase in oil production.
“The UAE denies that it is involved in any negotiations with other members of OPEC+ to change the latest agreement, which is valid until the end of 2023. We remain committed to the goal of OPEC+ to balance the oil market and support any solutions to achieve this goal,” Mr. al-Mazroui wrote on Twitter.
According to The Wall Street Journal, Saudi Arabia and other members of OPEC + discussed the issue of increasing production to 500 thousand barrels per day. Saudi Arabia deniesthat conducts such negotiations. The authorities, on the contrary, said that they do not exclude further reductions in production.
In early October, OPEC+ agreed reduction of oil production by 2 million b/d. The initiators of this measure were Saudi Arabia and Russia.
About the difficulties with increasing production in the Russian Federation – in the material “Kommersant” “Oil did not let us down in October”.
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