The UAE has reiterated its commitment to the OPEC+ agreement and its current mechanism for adjusting monthly production.
Minister of Energy and Infrastructure, Suhail Al Mazrouei told news agency WAM that the UAE believes in the value the OPEC+ pact brings to the world oil market.
He also added that it has not agreed to raise output individually outside the OPEC+ framework.
The Vienna-based OPEC had earlier praised the UAE's efforts to maintain consensus among the group's members on all issues related to the global oil market as well as the support it provides that takes into account the interests of producers and consumers alike.
The UAE believes in the value OPEC+ brings to the oil market.— سهيل المزروعي (@HESuhail) March 9, 2022
The UAE is committed to the OPEC+ agreement and its existing monthly production adjustment mechanism.