UAE committed to OPEC+ pact, no plan to up own output

The UAE’s ambassador to Washington, Yousuf Al Otaiba, had said in a statement which the embassy posted on Twitter that Abu Dhabi favoured an increase in output and would encourage OPEC to consider one.

But later, Energy Minister Suhail al-Mazrouei said the country believed in the value OPEC+ brought to the market.

Until now, the group of producers comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, has resisted calls from the United States and others to increase output, even as oil prices surge to more than $120 a barrel.