OPEC+ unity critical for oil industry
UAE energy minister warns oil sector of the chaos that may ensue without OPEC+ market management
The multifaceted market management from OPEC and its allies has faced much criticism over the lack of singular action. There is now the original OPEC, the expanded OPEC+ and the voluntary group within that has provided additional production cuts. But UAE Energy Minister Suhail al-Mazrouei warned the oil market of an alternative world without the balancing efforts of the group. "OPEC+ has sacrificed more than others, but the critical element is that it is staying together," Mazrouei said at the Gulf Intelligence Energy Markets Forum in Fujairah. "I would like you to imagine the world without this group. We would be in chaos," the OPEC minister added. The existence of various OPEC-related

Also in this section
11 July 2025
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
11 July 2025
Reassessment of the country’s export-facing gas policy coincides with worsening domestic market backdrop
10 July 2025
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
9 July 2025
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030