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Delegates: UAE Willing To Accept Unchanged August Crude Production-Wires

OPEC

Wires and social media reporting unverified comments from OPEC+ delegates stating that the UAE is now willing to accept unchanged crude production levels in the month of August, potentially paving the way towards an agreement.

  • Round 2 of the Joint Ministerial Monitoring Committee has just got underway in Vienna. More concrete headlines likely in the coming hours.
  • If the headlines on UAE are correct this would mark a major step back, given that previously the UAE had been seeking to ramp up supply significantly as it increases its production capacity.

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