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The growing Gulf rivalry that’s pushing up oil prices
A bitter public rift between the United Arab Emirates and Saudi Arabia over oil production quotas this week caused talks between the world's biggest oil-producing...
The 23 nations in Opec+, which comprises the Organization of the Petroleum Exporting Countries cartel and allied producers like Russia, had to postpone their negotiations indefinitely, raising fears about its…
- Sameer Hashmi
- BBC
The problem began last week, when the UAE rejected a proposal by Opec+ leaders Saudi Arabia and Russia to extend output curbs for another eight months.
The UAE wanted to renegotiate its current baseline – the level from which production cuts or increases are calculated – to…