OPEC Plus Agrees to Increase Oil Production and End the Conflict

Major oil producers agreed on a production increase on Sunday. United Arab Emirates and Saudi Arabia settled a dispute this month that blocked a deal. Under the agreement, OPEC Plus, as the group is known, will increase production by 400,000 barrels per day indefinitely every month from August. The arrangement gives Emirates most of the …

Behind the Conflict in OPEC: Increasing Competition in the Gulf

The conflict between the United Arab Emirates and Saudi Arabia over oil production had lasted for months or even years. Emirates, a seven-member federation of states in the Persian Gulf, has ambitious plans to expand and modernize its economy, including billions spent on the energy industry. Eventually, these aspirations would meet the expectations of its …