UAE Denies OPEC+ Production Hike Discussions

The UAE has reiterated that it has not been in any discussions with OPEC members to change the existing agreement, denying talks of a potential production hike first quashed by the Saudi energy minister following a report in the Wall Street Journal earlier Monday.  Emphasizing that the most recent OPEC+ agreement is valid until the end of 2023, the UAE said it remained committed to the aim of OPEC+ to balance the oil markets, and “will support any decision to achieve that goal”.  Shortly before the UAE’s denial of rumors…