French President Emmanuel Macron said on Monday the president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan (MbZ), had told him two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production. “I had a call with MbZ,” Macron was heard telling U.S. President Joe Biden on the sidelines of the G7 summit. “He told me two things. I’m at a maximum, maximum (production capacity). This is what he claims.” “And then he said (the) Saudis can increase by 150 (thousands barrels per day). Maybe a little bit more, but they don’t have huge capacities before six months’ time,” Macron said. Brent oil prices jumped by over $2 per barrel to above $115 per barrel on the news amid tight global supplies and rising demand. Saudi Arabia and the UAE have been perceived as the […]