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News Wire / economy

Saudi Arabia May Exit OPEC Plus Alliance

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Saudi Arabia may follow its neighbors in exiting the OPEC Plus agreement. The United Arab Emirates has closed the decision-making window for its exit from OPEC Plus as of April 1, 2021, and stated the decision will be discussed in line with national interest following a review of production policy. The decision for the UAE to exit OPEC Plus may involve factors beyond economic interests, according to a report from NTV Radyo. Analysts suggest the move could lead to different types of divisions within Saudi Arabia and the Gulf region. The situation is being viewed through the lens of interests involving the US, Israel, and other Gulf nations. The move could involve the UAE creating space for itself by following American political trajectories. The decision is reportedly driven by long-term strategic and economic visions.

Saudi Arabia may follow its neighbors in exiting the OPEC Plus agreement. The United Arab Emirates has closed the decision-making window for its exit from OPEC Plus as of April 1, 2021, and stated the decision will be discussed in line with national interest following a review of production policy. The decision for the UAE to exit OPEC Plus may involve factors beyond economic interests, according to a report from NTV Radyo. Analysts suggest the move could lead to different types of divisions within Saudi Arabia and the Gulf region. The situation is being viewed through the lens of interests involving the US, Israel, and other Gulf nations. The move could involve the UAE creating space for itself by following American political trajectories. The decision is reportedly driven by long-term strategic and economic visions. Experts suggest the move follows disputes with neighboring states in the Gulf region. OPEC consists of twelve oil-exporting nations intended to stabilize prices and manage market overcapacity. Arabia is expected to exit the OPEC and OPEC+ mechanism to allow for greater flexibility with partners and investors. The decision to exit is expected to increase oil supply and potentially lower prices in the medium to long term. This comes amid weakening hopes for a ceasefire in the Iran war and concerns regarding shipments through the Strait of Hormuz.

Topics

OPEC Plus Saudi Arabia Russia oil

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Sources · 7 independent

Business FM Russia

“Последует ли она примеру своих соседей? Я этого совершенно не исключаю, после чего, конечно, сделку ОПЕК Плюс можно будет смело похоронить, что для России является серьезным вызовом.”

NTV Radyo

“Abu'da bir mayısı itibariyle çekilecek ve bu kararın örgütü ağır bir darbe olduğu düşünülüyor.”

WDR 5

“Man verlässt zum 1. Mai sowohl die OPEC als auch die OPEC. Zu der Förderländer wie Russland gehören. So meldete es die staatliche Nachrichtenagentur der Emirate.”

WDR 5

“Arabischen Emirate, kurz VRI, verlassen bereits zum 1. Mai die Gruppe der Erdöl-Exportierenden Länder OPEC und OPEC Plus.”

BR24

“Man verlässt zum 10. Mai sowohl die OPEC als auch die O-Plus zu der Förderländer wie Ausland gehören.”

NTV Radyo

“Birleşik Arap Emirlikleri enerji bakanı Muhammed Nazrui kararın stratejik bir adım olduğunu söyledi.”

SWR Aktuell

“Die Veranstalten treten die Vereinten Arabischen Emirate kurz VE aus der OPEC, der Orktion Erdölprozierender Länder. Man verlässt zum nächsten Mai sowohl die als auch die OPEC zu der Länder wie aus Land gehören.”

NDR Info

“Beobachter bezeichnen die Entscheidung der Emirate als schweren Schlag für die OPEC und vor allem für den de facto Anführer der Erdölexpo.”

NDR Info

“Dass das langjährige Mitglied, die Vereinigten Arabischen Emirate, die Gruppe der Erdöl exportierenden Länder verlässt, könnte für Unruhe sorgen”

Sky News Arabia Radio

“أوباك بلاس أغلأ أي يسرية القرار اعتبار من الأول بن شهر مائية من عام 2021...”

NTV Radyo

“hem Amerikan hem İsrail hem de diğer bölgedeki körfez ülkelerinin paylaşımlarından anladığım kadarıyla bu sadece ekonomik çıkarlarla açıklanacak bir şey değil”

NTV Radyo

“Birleşik arabaların bu hürmüzden ayrılıp ama Amerika'ya yakın bir duruş sergileyerek kendisine burada bir alan yaratmaya çalışacak gibi gözüküyor.”

SWR Aktuell

“Merte haben überraschenden Austritt aus der Ölallianz OPEC verkündet. Hinter der Entscheidung stehe eine langfristige, strategische und wirtliche Visionen sorgliche Medien.”

CNR Economic Voice

“退出OPEC及OPEC加機制將使阿聯酋能夠和合作伙伴和投資者更加靈活的開展合作...因為它一直對機制的產量配額分不滿...產能擴大得比較快, 比如說達到500萬桶每天, 但是它的配額只有320萬桶每天。”

TRT Radyo 1

“İran Savaşında Ateşkes Umutlarının zayıflaması ile Hürmüz Boğazı'ndan sevkiyatlarda yakın dönem için... OPEK'in en büyük 3. üreticisi konumundaydı. Çıkış kararının petrol arzını artırması, orta ve uzun vaat edip fiyatları düşürmesi bekleniyor.”

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