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UAE Says OPEC+ Should Boost Output, Setting Up Tension in Group

  • OPEC+ has shied away from discussing the Russian energy crisis
  • Crude drops as much as 17% in London to below $106 a barrel
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The United Arab Emirates said it will call on its fellow OPEC+ members to boost oil output faster, a dramatic U-turn that could set the country against fellow members of the alliance led by Saudi Arabia and Russia. 

“We favor production increases and will be encouraging OPEC to consider higher production levels,” Yousef al-Otaiba, the UAE’s ambassador to Washington, said in a statement on Wednesday, which was first reported by the Financial Times.