On 5/11/2023, Saudi Arabia and Russia decided to keep their voluntary oil cuts of more than 1 million barrels per day (bpd) until the end of the year, despite the events of the Gaza War.
However, this decision received backlash from different countries, including fellow OPEC+ member, the UAE.
This note provides a comprehensive overview of UAE President Sheikh Mohammad Bin Zayed’s (MBZ) position on several aspects, including:
- The recent OPEC+ decision
- Using oil production to achieve a ceasefire in Gaza
- Fears of oil cuts promoting Western retaliation
- Predictions for the next OPEC+ meeting
Furthermore, this note re-addresses the Emirati stance regarding a possible OPEC+ exit.
