UAE Energy Minister on OPEC Tensions

The transcript discusses the UAE's stance on the proposed unconditional increase in oil production by the GMC. The UAE supports the increase but requests a delay in the decision to allow for a fair assessment of its production baseline. The UAE emphasizes the need for fair treatment, highlighting its unique situation compared to other countries. The UAE is committed to remaining in OPEC and is ready to increase production to support global economic recovery, especially in light of the pandemic.

What is the UAE's position on the unconditional increase of oil production?

• They support it without any conditions.

• They have no opinion on the matter.

• They oppose it completely.

• They agree but want conditions to be discussed later.

Why does the UAE want to delay the decision on extending the agreement?

• To wait for other countries to make the first move.

• To avoid any decision-making responsibilities.

• To allow time for a fair comparison of production status.

• To negotiate better terms for themselves.

How does the UAE view its production capacity compared to other countries?

• They think their capacity is underutilized compared to others.

• They believe they have the highest production capacity.

• They are satisfied with their current production levels.

• They have no opinion on their production capacity.

What is the UAE's response to the possibility of $100 oil prices?

• They are ready to support wise voices for production increase.

• They are against any increase in oil prices.

• They are indifferent to the price changes.

• They believe prices will not reach $100.

What is the UAE's main focus in the upcoming meeting?

• To maintain current production levels.

• To decrease oil production.

• To exit the agreement entirely.

• To agree on increasing oil production.