Editing OPEC (section)

===2021: Saudi-Emirati dispute===
In July 2021, OPEC+ member United Arab Emirates rejected a Saudi proposed eight-month extension to oil output curbs which was in place due to [[COVID-19]] and lower oil consumption.<ref>{{cite news|url=https://www.reuters.com/world/middle-east/opec-resumes-oil-policy-talks-amid-saudi-uae-standoff-2021-07-05/|title=OPEC+ abandons oil policy meeting after Saudi-UAE clash|publisher=Reuters|date=5 July 2021}}</ref><ref>{{cite web |url=https://www.forbes.com/sites/thebakersinstitute/2021/07/16/the-saudi-uae-bust-up-is-a-return-to-the-persian-gulf-status-quo/?sh=20a6db657428 |title=The Saudi-UAE Bust-Up Is A Return To The Persian Gulf Status Quo |website=Forbes |date=16 July 2021 }}</ref> The previous year, OPEC+ cut the equivalent of about 10% of demand at the time. The UAE asked for the maximum amount of oil the group would recognize the country of producing to be raised to 3.8 million barrels a day compared to its previous 3.2 million barrels. A compromise deal allowed UAE to increase its maximum oil output to 3.65 million barrels a day.<ref>{{cite web|url=https://www.wsj.com/articles/opec-reaches-compromise-with-u-a-e-over-oil-production-standoff-11626264218|title=OPEC Reaches Compromise With U.A.E. Over Oil Production|publisher=Wall Street Journal|date=14 July 2021}}</ref> 

Under the terms of the agreement, Russia would increase its production from 11 million barrels to 11.5 million by May 2022 as well. All members would increase output by 400,000 barrels per day each month starting in August to gradually offset the previous cuts made due to the COVID pandemic.<ref>{{cite web |url=https://www.rferl.org/a/opec-agreement-oil-output/31364977.html |title=OPEC+ Reaches Agreement On Oil Output Increase; Russia To Boost Production |website=RFEL |date=18 July 2021 }}</ref> This compromise, achieved where Saudi Arabia met the United Arab Emirates halfway, underscored OPEC+ unity. UAE Energy Minister [[Suhail Al Mazroui|Suhail Al-Mazrouei]] thanked Saudi Arabia and Russia for facilitating dialogue leading to an agreement. He stated, "The UAE is committed to this group and will always work with it." On the Saudi side, Energy Minister Prince Abdulaziz bin Salman emphasized consensus building and stated that the agreement strengthens OPEC+'s ties and ensures its continuity.<ref>{{Cite web |last1=Blas |first1=Javier |last2=El Wardany |first2=Salma |last3=Smith |first3=Grant |last4=Khrennikova |first4=Dina |date=July 18, 2021 |title=OPEC+ Makes Deal to Boost Output as Gulf Allies Call Truce |url=https://www.bloomberg.com/news/articles/2021-07-18/opec-clinches-deal-to-boost-output-as-gulf-allies-call-truce |access-date=2024-05-25 |website=www.bloomberg.com}}</ref>