Saudi-Emirati tensions reveal an uncertain future for OPEC ...Kuwait

The New Arab - News

The proposed extension of oil production cuts through 2022 has escalated tensions between major producers Saudi Arabia and the UAE. The UAE has demanded that its production quota be increased, scuppering plans from OPEC+ (the 13 OPEC members and 10 of the world's major non-OPEC oil-exporting states) to gradually increase oil output until the end of 2022. The Emirati delegation has contended that extending the current output cut would be "unfair to the UAE". OPEC+'s meeting on 5 July was cancelled and has yet to be rescheduled, demonstrating how serious the tensions could be, although Russia is said to be attempting mediation. "This latest spat raises serious questio

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Last updated : 14 July 2021 clock 03:15 AM

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Saudi-Emirati tensions reveal an uncertain future for OPEC ...Kuwait

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