Saudi Arabia, Russia and other OPEC+ members have decided to increase production cuts starting May until the end of 2023 by 1.15 million barrels per day (bpd).
The UAE said it would cut production by 144,000 bpd, despite their continuous efforts to increase oil production, in order not to be left with future stranded assets.
What are UAE President Sheikh Mohammad’s views on the recent OPEC+ cuts?
Does he share the Saudi-Russian view of future oil demand?
Will the recent cuts change the UAE’s oil production strategy?
How will this affect Saudi-Emirati relations regarding the cartel?
Tactical Report has prepared a 237-word report to answer all these questions and more.