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The UAE remains fully committed to the Declaration of Cooperation issued by OPEC+ oil producing countries, according to the Ministry of Energy and Infrastructure. The UAE “reiterates” that any decisions will be taken collectively by the OPEC+ group at the next Ministerial meeting.
The comments come amidst major developments in the oil industry, with the US and India releasing some of their strategic oil reserves in a bid to cool down prices. But OPEC+ members have consistently maintained that they will be sticking to the production increases they have agreed to earlier.
