- إنضم
- 28 يوليو 2013
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Crude Oil Dips After Journal Report on Clash Between Saudi Arabia and U.A.E.
The price of crude oil dropped about 2% this morning after a Wall Street Journal story detailing the latest clash between Saudi Arabia and the United Arab Emirates. Saudi Arabia and t
www.wsj.com
Crude Oil Dips After Journal Report on Clash Between Saudi Arabia and U.A.E.
By Bob HendersonThe price of crude oil dropped about 2% this morning after a Wall Street Journal story detailing the latest clash between Saudi Arabia and the United Arab Emirates.
Saudi Arabia and the U.A.E. are the two countries within OPEC that have the greatest capacity to increase crude production, analysts say.
U.A.E. leadership has for years discussed departing OPEC, without action. But Emirati officials said recent disagreements with Saudi Arabia had rekindled the idea, the Journal reported. A U.A.E exit from the Saudi-led cartel would free the country to export more oil than its current OPEC quota allows.
The Emiratis clashed with the Saudis last October when OPEC+—a group that includes OPEC's 13 nations and 10 other countries, including Russia—decided to dramatically reduce oil production to prop up crude prices. The Emiratis have long pushed to pump more oil, but the Saudis have stood in their way.
Saudi Arabia and the U.A.E. have also been wrangling over the direction of the Yemen war, in which the two countries are ostensibly allies.
Oil prices had recovered nearly all of their losses about an hour after the Journal's story appeared
اسعار البترول تنخفض ب2فى الميه نتيجه خلافات بين السعوديه والامارات على خلفيه تحديد انتاج الامارات من البترول
على اثر تلك الخلافات تدرس الامارات الانسحاب من منظمه اوبك
