The United Arab Emirates has reaffirmed its commitment to the Opec+ production agreement, in what appeared to be an about-turn hours after its US ambassador said the Gulf state favoured higher output.
In comments seemed designed to reassure fellow Opec members, Suhail Al Mazrouei, the UAE’s energy minister, said on Thursday that his country believed “in the value Opec+ brings to the oil market”.
“The UAE is committed to the Opec+ agreement and its existing monthly production adjustment mechanism,” he said on Twitter.
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