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
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
