The UAE is committed, but not enthusiastic
The UAE could lift oil output but it will likely toe Saudi Arabia's line
Suhail al-Mazrouei, the UAE's oil minister, likes to make a point of his relative youth, at 43. Appointed in 2013, the current oil price slump may be his first as minister, but as a 1996 graduate, his industry experience spans two others. So his somewhat sceptical note on Opec's production cuts, and his casting of the deal as one to "rebalance the market" and draw down surplus stocks-rather than achieving a specific price-was notable. He pointed to the danger of a rebound in shale. But Abu Dhabi, as is traditional, toes the line set by Gulf Opec colleague Saudi Arabia. The UAE accepted a 139,000-barrel-a-day cut as its part of the November deal. State firm Adnoc has already cut supplies to t
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