OPEC, Allies Reach 'Full Agreement' After Production Spat
Voice of America
DUBAI - The energy minister of the United Arab Emirates said Sunday that OPEC and allied countries have reached a “full agreement” after an earlier dispute that roiled oil prices.
The comments by Suhail al-Mazrouei to journalists came after an online meeting to reach a deal. He offered no immediate details, though Saudi Energy Minister Prince Abdulaziz bin Salman acknowledged that five countries would see their production limits raised. He declined to elaborate on how they came to that consensus, saying it would see the cartel “lose our advantage of being mysterious and clever.” Earlier this month, talks over production levels disintegrated, in part over the United Arab Emirates wanting to increase its own production levels. That sparked tension between it and Saudi Arabia, long the heavyweight of the Vienna-based cartel, amid other disagreements between the two neighboring Gulf Arab nations.
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