Disagreement with African OPEC+ members over oil production targets


Photo: ANP

Members of the African oil cartel OPEC+ are under increasing pressure to give up space within their oil production targets. This space would belong to the United Arab Emirates, which would like to produce more. Angola and Nigeria in particular are struggling to achieve their goals.

The UAE is pushing for a different way to measure production restrictions, according to delegates. This means that the free space in terms of oil production can be used by other oil-producing countries, in particular the UAE. The UAE has invested heavily in its production capacity, but has not yet been able to use it due to OPEC commitments.

However, many African countries are looking for investments to increase production further in the coming years. According to a concerned person, the African ministers will meet again on Sunday morning before the actual OPEC+ consultations.

It is still not clear what exactly will be decided on oil production. “Everything is on the table,” said Amir Zamaninia, the Iranian governor of OPEC. This also includes the possibility of the meeting ending without an agreement.

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