UAE sticks to OPEC+ production limits

The Biden administration is asking Gulf partners to increase production in response to rising oil prices, but so far the cartel is holding to its earlier agreement.

Adam Lucente
Adam Lucente
OPEC
Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia arrives for the 178th meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna, Austria, on March 6, 2020. — ALEX HALADA/AFP via Getty Images

The Biden administration is pushing for major oil producers, including the United Arab Emirates and Saudi Arabia, to increase production in an effort to bring down prices.

However, during OPEC’s meeting earlier this month with Russia, the so-called OPEC+ alliance decided to boost production only gradually. 

And the UAE, and other members of the oil cartel, are sticking to their previous agreement for now.

“The UAE remains committed to the OPEC+ agreement and its existing monthly production adjustment mechanism,” Energy Minister Suhail bin Mohammed Al Mazrouei told the official Emirates News Agency. He clarified that there is no other agreement at present. 

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