PARIS, France - The United Arab Emirates' ambassador to Washington, Yoused Al Otaiba, told CNN that the UAE favors 'oil production increases and will be encouraging OPEC to consider higher production levels'.
'The UAE has been a reliable and responsible supplier of energy to global markets for more than 50 years and believes that stability in energy markets is critical to the global economy', he said.
The UAE had, last week, committed to the same oil production levels with Russia vis-a-vis the OPEC+ agreement. Otaiba's comments signal, possibly, a change in Emirati policy from stabilizing oil production to an increase in oil production - and therefore helping decrease soaring energy prices. The UAE Ministry of Energy and Infrastructure has not released a statement at the time of this writing.
Meanwhile, the UAE is also working with the U.S. to schedule a call between the U.S. President Joe Biden and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed, an Emirati foreign ministry spokesperson told CNN on Wednesday.
Saudi Arabia and the UAE are global oil producing powerhouse, capable of increasing production to decrease soaring energy prices caused by Russia's invasion of Ukraine.
Despite the price hikes, both countries recommitted last week to the OPEC+ oil production agreement with Russia. Both countries have also declined to give an outright condemnation of Putin's invasion.
U.S. Secretary of State Antony Blinken said Wednesday the U.S. shares 'very important interests' with Gulf countries, including global energy supplies, 'and we've had very constructive engagements with those interests in mind'.
Blinken noted recently - announced 'Emirati support for increased production when it comes to OPEC+, which I think is an important thing to stabilize global energy markets, to make sure that there remains an abundant supply of energy around the world'.
The Gulf countries are close U.S. allies, and most recently, the UAE received additional U.S. military defensive support to help them against Houthi threats from Yemen. But the UAE has called on the U.S. to re - designate the Iran - backed militia on the Foreign Terror Organization list, which the U.S. has yet to do.
The relationship between the U.S. and the UAE is currently 'under a stress test' the Emirati ambassador to the U.S. said in a forum last week.
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