Source: Gulf OPEC, Iraq question whether to keep deep oil cuts into 2021

[المستشار الصحفى]

الصحف المصرية والعربية

Gulf OPEC producers the United Arab Emirates and Kuwait, as well as Iraq, are debating whether they should roll over existing oil supply cuts into 2021, as they struggle to stick to their agreed reductions, OPEC and industry sources said,*Reuters*reports. Their hesitance raises the possibility of reviewing output targets when the Organization of the Petroleum Exporting Countries meets in November to decide on its production policy and could create further friction within the OPEC+ group that includes allies, complicating efforts to rebalance the market amid weak global demand. The UAE and Kuwait have traditionally supported Riyadh’s position, but both nations are feeling the heat of tight oil policies in 2021 as they believe the size of their output cuts is […]

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