Saudi Arabia’s decision not to expand capacity target seen as bolstering UAE’s position within OPEC+
The UAE is set to fortify its influence within OPEC+ and state-run Adnoc is expected to clinch a bigger oil market share after Saudi Arabia decided to halt NOC Saudi Aramco’s plan to boost its maximum sustainable capacity (MSC) to 13m b/d by 2027.
Before this reversal, the world’s biggest oil exporter was betting on an uptick in global demand that would have justified its additional 1m b/d of capacity…
