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From the Liveblog of
Sunday, July 4, 2021
From the Liveblog of
Sunday, July 4, 2021
UAE rejects ‘unfair’ OPEC+ output deal
Add ToI as a Preferred Source on GoogleThe United Arab Emirates criticizes the current oil production deal among OPEC+ alliance members as “unfair,” offering to extend the agreement only if its production is reviewed.
In a row that could put at risk the energy market’s post-coronavirus recovery, the UAE’s push to increase its production baseline has reportedly derailed last week’s meeting of the alliance of oil-producing countries.
The UAE on Friday raised a last-minute objection to the Russian-Saudi Arabia deal and has reportedly insisted on having its baseline lifted by 0.6 million barrels per day to 3.8 million.
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