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View all search resultsSaudi Arabia, Russia and five other OPEC+ countries increased their oil production quota on Sunday in an expected move aimed at demonstrating continuity at the cartel after the shock withdrawal of the United Arab Emirates.
Political analysts and regional experts said the move to leave the groups of oil-producing nations, announced on Tuesday, was more than just a dispute over OPEC oil output quotas that Gulf sources say Abu Dhabi sees as tilted against the UAE.
Eight OPEC+ members are scheduled to boost output by 180,000 barrels per day in October, as part of a plan to begin unwinding their most recent layer of output cuts of 2.2 million bpd while keeping other cuts in place until end-2025.
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