According to a person familiar with the situation, the UAE hadn’t consulted other OPEC+ members before its ambassador to Washington made his statement.
Oil prices slumped ON Friday, falling more than 3 per cent before recovering lost ground later in the day, as Western leaders sounded the alarm about an imminent Russian invasion.
by Bloomberg
|Wednesday, August 04, 2021
Iran s oil comeback, already taking longer than many traders expected, will be further complicated by last week s deadly drone attack on a tanker in the Gulf of Oman.
(Bloomberg) Iran’s oil comeback, already taking longer than many traders expected, will be further complicated by last week’s deadly drone attack on a tanker in the Gulf of Oman, which the U.S., U.K. and Israel all blamed on Tehran.
With talks held up by a change of presidency in Tehran, the incident adds friction to a process that could return 1 million barrels of oil a day to the global market within months. Even if the allies decide against a military response, Washington may be less willing to ease sanctions on the Islamic Republic’s energy exports.