She stressed that the country is the most committed to the "OPEC" and "OPEC Plus" agreements.

“Energy”: The UAE supports any unconditional increase in oil production in August

The UAE was supportive of production increases in May, June and July of this year.

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The Ministry of Energy and Infrastructure confirmed that the UAE has always been one of the most committed members to the "OPEC" and "OPEC Plus" agreements, and during the current two-year agreement, its commitment exceeded 103%.

In a statement issued today, the ministry stated that the United Arab Emirates believes that the global market is in dire need of increasing production, and supports this increase for the period between August to December without any conditions.

She pointed out that the UAE was supportive of the production increases in the months of May, June and July this year, which were not linked to any conditions, and we fully support any unconditional increase in August.

"Unfortunately, the ministerial committee in (OPEC Plus) presented only one option, which is to increase production, conditional on extending the current agreement to December 2022, which is an unfair agreement for the UAE in terms of the base point of reference for production quotas," she said.

She noted that the UAE suggested separating the increase in production from the issue of extending the agreement and moving forward with increasing production in support of the needs of the global market, but the OPEC Plus Ministerial Committee insisted on linking the two issues.

She stressed that the current agreement continues until April 2022, and the UAE does not mind extending the agreement if necessary, but it requested a review of the base points ratios for the reduction reference to ensure fair quotas for all members upon extension.

The UAE proposes to take the extension decision at a later meeting with the aim of allowing an immediate decision to increase production from August until the end of the current agreement.

She said: "The UAE and its international partners have made huge investments in increasing its production capacity, and we believe that the base point of production volume (which represents the level of production on which reductions are calculated) should reflect our current production capacity, rather than relying on the reference production volume that has been approved. In October 2018.

• The country believes that the global market is in dire need of increasing production during the current period.

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