UAE Fully Committed to OPEC+ Agreement

The United Arab Emirates is fully committed to the OPEC+ agreement and has no "prior stance" ahead of an upcoming meeting on Dec. 2, state news agency WAM reported on Thursday, citing the energy ministry.

Energy Minister Suhail Al-Mazrouei told reporters on Tuesday that he saw no logic in his country supplying more oil to global markets when all indicators pointed to a supply surplus in the first quarter of next year.