Oil and Dollars: Why the UAE Is Risking a Falling-Out With OPEC+
- UAE is the lone holdout against Saudi Arabia and Russia’s plan
- Abu Dhabi says it’s ‘sacrificing’ more oil other OPEC states
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The OPEC+ oil cartel is facing its biggest crisis since a price war at the start of the coronavirus pandemic.
The United Arab Emirates, the group’s fourth-biggest producer, argued against a deal proposed by Saudi Arabia and Russia to extend quota limits until the end of next year, rather than ending them in April as originally planned.