Published 2 years ago

First sign of oil price relief: UAE says it wants OPEC to increase production

Summary by Ground News

"We favour production increases and will be encouraging OPEC to consider higher production levels," UAE ambassador to Washington says. Russia is the world's second-largest oil producer behind OPEC kingpin Saudi Arabia. Brent had spiked to $139 on Monday -- about $8 short of an all-time record -- in expectation of US embargo.

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Reuters

UAE says it is committed to OPEC+ agreement, monthly mechanism

The United Arab Emirates is committed to the OPEC+ agreement and its existing monthly production adjustment mechanism, its energy minister said on Wednesday, hours after the Arab country's ambassador to Washington said it favors an output increase.

2 years ago·United Kingdom

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CNN

First sign of oil price relief: UAE says it wants OPEC to increase production

The oil market has been stretched incredibly thin, with few willing -- or able -- producers to replace Russia's taboo fossil fuel supply. Queue the United Arab Emirates, which suggested it may be coming to the rescue.

2 years ago·Atlanta, United States

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KRDO

First sign of oil price relief: UAE says it wants OPEC to increase production

By David Goldman and Becky Anderson, CNN BusinessThe oil market has been stretched incredibly thin, with few producers willing — or able — to replace Russian barrels banned by the United States and shunned by others. Enter the United Arab Emirates, which suggested it may be coming to the rescue.The UAE’s ambassador to Washington, Yousef Al Otaiba, told CNN Wednesday that the country wants to increase oil production and will encourage the Organi…

2 years ago·Colorado Springs, United States

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National Post

UAE favors oil production increase - ambassador to U.S.

The United Arab Emirates (UAE) favors an oil production increase and will be encouraging OPEC to consider higher output, the UAE's ambassador to Washington said on Wednesday. Read More

2 years ago·Canada

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Bloomberg

UAE Says OPEC+ Should Boost Output, Setting Up Tension in Group

The United Arab Emirates said it will call on its fellow OPEC+ members to boost oil output faster, a dramatic U-turn that could set the country against fellow members of the alliance led by Saudi Arabia and Russia.

2 years ago·United States

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OAN

UAE favors oil production increase – ambassador to U.S

March 9, 2022By Kanishka Singh(Reuters) -The United Arab Emirates (UAE) favors an oil production increase and will be encouraging OPEC to consider higher output, the UAE’s ambassador to Washington said on Wednesday.“We favor production increases and will be encouraging OPEC to consider higher production levels,” Ambassador Yousuf Al Otaiba said in a statement tweeted by the UAE Embassy in Washington.U.S. Secretary of State Antony Blinken also sa…

2 years ago·San Diego, United States

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