UAE aligned with Saudi thinking on crude markets – source

< 1 min read < 1 min read

Dubai (Reuters) – The United Arab Emirates is aligned with Saudi Arabia’s thinking on crude oil markets, a source with knowledge of the matter told Reuters on Friday.

OPEC’s de facto leader Saudi Arabia on Monday flagged the possibility of introducing production cuts to balance the oil market.

Following the statement by Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, there has been a flurry of support expressed by OPEC+ member states, including Iraq, Venezuela and Kazakhstan, about OPEC’s readiness to intervene and restore balance in the oil market.

There has been no official statement by the UAE.