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United Arab Emirates10h ago

UAE reassures no oil market shock from production increase

UAE Energy Minister says UAE will not drastically increase production once Strait normalizes.

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United Arab Emirates

Updated

Tuesday, 28 April 2026 at 16:58 UTC

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UAE Energy Minister Suhail Al Mazroui reassured that the UAE will not shock the oil market by drastically increasing production once the Strait of Hormuz situation normalizes. The statement comes amid the ongoing US naval blockade of Iran and global oil price volatility. The UAE recently confirmed its withdrawal from OPEC, effective May 1, 2026, which had raised concerns about potential production surges.

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e/eineurope · topic · T-09870cycle Tuesday, 28 April 2026 at 16:58 UTC · first reported 10h ago