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IT IS RARE for spats about oil supply to break out between Saudi Arabia and the United Arab Emirates (UAE). The countries’ views on output usually align. Traders and analysts regard them, along with Kuwait, as the core of the Organisation of the Petroleum Exporting Countries (OPEC). So eyebrows were raised in early July when Suhail Al Mazrouei, the UAE s energy minister, told reporters that OPEC s quotas were “totally unfair”. A further surprise came on July 5th when meetings between the cartel and its allies (notably Russia), together known as OPEC+, were abandoned because of the disagreement. The price of the benchmark Brent crude rose above $77 a barrel for the first time in more than two years, before dropping back below $75. (The price of American crude briefly hit a six-year high.)

Saudi arabiaUnited arab emiratesUnited statesFrancesco martocciaSuhail al mazroueiChris midgleyOrganisation of the petroleum exporting countriesPetroleum exporting countriesசவுதி அரேபியாஒன்றுபட்டது அரபு அமீரகங்கள்ஒன்றுபட்டது மாநிலங்களில்கிறிஸ் மிட்லேஆர்கநைஸேஶந் ஆஃப் தி பெட்ரோலியம் ஏற்றுமதி நாடுகள்பெட்ரோலியம் ஏற்றுமதி நாடுகள்