UAE: MBZ on OPEC+ policy and production quotas ahead of JMMC meeting

29 July 2024

IntelligenceNote

Summary

OPEC+ is set to hold an online joint ministerial monitoring committee (JMMC) meeting on 1/8/2024, to

review current market conditions and production policies.

This note delves into the following key aspects:

Emirati President Sheikh Mohammad Bin Zayed’s (MBZ) views on OPEC+ production policy
UAE's production quota
The impact of idle production capacity on market dynamics as perceived by MBZ

The note also highlights Saudi Arabia's outlook on demand growth and global supply.