The battle over oil production quotas within OPEC+ is not yet resolved, according to an official statement from the UAE, although some earlier reports suggested that this was so. But that doesn’t mean progress hasn’t been made—at least with the UAE. However, it is the UAE’s production quota demands that may lead to other producers who are unhappy with their designated baselines demanding similar hikes. Wednesday reports, based on anonymous sources who spoke to Reuters and Energy Intelligence, suggested that a deal had been struck between the UAE and Saudi Arabia on the topic of production quotas—specifically, the baseline used to establish the production quota for the UAE. But according to the UAE energy ministry, a deal has not yet been struck with OPEC+. “We note recent media reports that a compromise has been reached between UAE and OPEC+ participants on futures oil supply deal. We would like to […]