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Friday, November 17, 2023

UAE: MBZ’s position on recent and upcoming OPEC+ decisionsnote

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.


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