An OPEC+ source stated on Wednesday that Saudi Arabia and the United Arab Emirates have reached an agreement on the OPEC+ oil supply accord, according to Reuters. After the existing agreement expires
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Last week’s couple of events indicated that the tension or rift between Saudi Arabia and the United Arab Emirates (UAE), two close Gulf allies, has deepened. On July 1, the UAE blocked
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Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman objected to the United Arab Emirates’ (UAE) opposition to a proposed OPEC+ deal, which foresees an extension of production cut. The minister’s remarks came
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On Thursday, the United Arab Emirates (UAE) effectively blocked a deal of the Organization of Petroleum Exporting Countries, known as OPEC+, reached by major producers Saudi Arabia and Russia to relax oil
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As economies recover from the pandemic, the Organization of Petroleum Exporting Countries (OPEC) anticipates an oil supply deficit in August and the rest of 2021, suggesting the organization and its allies have
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Oil prices are continuing to rise mainly due to expectations regarding that major oil producers of OPEC+ would keep to the decision to cut oil output in May. Analysts comment that OPEC+
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In the month of February, the Organization of Petroleum Exporting Countries (OPEC) indicated a cut in its 2021 forecast for US shale oil, which expects a decline in production by 140,000 barrels
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