Reuters Dado Ruvic
The UAE denied the authenticity of the news that it had reached an agreement to settle the dispute that emerged between it and Saudi Arabia within the “OPEC +” alliance, according to Reuters news agency.
Reuters quoted the UAE Ministry of Energy as saying in a statement today, Thursday, that “no agreement has been reached with “OPEC +” regarding its baseline, and that discussions are continuing.”
This comes in the wake of the publication by major Western media, including “Reuters” and “Bloomberg” agency, reports that the UAE and Saudi Arabia have reached a compromise in their oil dispute, which requires extending the “OPEC +” agreement until the end of 2022 and giving Abu Dhabi a higher reference production level of 3.65 million barrels per day. (compared to about 3.17 million currently) in future oil agreements.