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Tag Archives: production caps

No progress yet in UAE-Saudi OPEC talks

UAE is still in discussions with Saudi Arabia and other OPEC+ members for better terms under the current agreement that will expire in April 2022, an informed source of the discussions told Arab News. Reuters said earlier that UAE has reached a compromise to assign the Gulf nation a quota of 3.65 …

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Iraq worried OPEC price war in the offing

The financial adviser to Iraq’s prime minister said that “in the absence of coordination and understandings between OPEC producers, the beginnings of a price war will be formed again,” the Iraqi News Agency (INA) quoted him as saying on Monday. Mazhar Mohammed Saleh added that “the increases in production within …

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Saudi, UAE disagree over OPEC policy

Oil held steady as tensions between Saudi Arabia and the UAE escalated over the weekend, leaving the market with few clues about how supply talks will proceed on Monday after discussions reached an impasse last week. The clash was unresolved just hours before Monday’s meeting was scheduled to start. The Saudis are standing …

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US worried about oil prices rising too high

The White House said on Friday it is concerned about the impact of rising oil prices on US consumers but believes producers have ample ability to pump enough crude. “Currently we believe that there is enough spare oil production capacity globally,” White House Press Secretary Jen Psaki told reporters. “Because …

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