During the last OPEC+ meeting earlier this month (4/6/2023), the cartel decided to extend the already agreed-on oil cuts for the remainder of 2023, but Saudi Arabia cut its own production from 10 to 9 million barrels per day (mbpd) starting July.
Tactical Report has prepared a report (289 words) to highlight the views of UAE President Sheikh Mohammad Bin Zayed Al Nahyan on the cartel’s decision, including:
- The decision’s effect on Emirati-Saudi relations
- Its impact on the UAE’s production targets
- Its repercussions on Russian revenues
The report will also shed light on the impact of the Kingdom’s own production cut on the market, and what it means for OPEC+.