United Arab Emirates Minister of Energy and Infrastructure Suheil Al-Mazroui, despite the decision to cut production by two million barrels per day from November, the UAE and its OPEC+ partners (an initiative to reduce oil production that includes OPEC and non-OPEC countries) will cut daily oil production by 500 He denied reports that he was discussing the increase of 1,000 barrels.

According to APA-Economics, the minister shared this on his Twitter account.

"The United Arab Emirates denies that it is involved in any discussions with other OPEC+ members to change the latest agreement, which runs until the end of 2023.

We remain committed to the goal of "OPEC+" to balance the oil market, and we will support any decision to achieve this goal," the post states.

On Monday, the "Wall Street Journal" reported that Saudi Arabia and other OPEC+ members will discuss increasing production by 500,000 barrels per day at the meeting of the alliance to be held on December 4.