Macron Warns Biden on UAE, Saudi Arabian Oil Capacity

President Macron revealed that the UAE and Saudi Arabia are producing near maximum oil capacity, contradicting official data. This suggests the market should not rely on these countries to fill the gap left by reduced Russian oil output due to European sanctions. The UAE confirmed production at max capacity under the OPEC+ agreement, hinting at potential increases post-agreement. Macron's comments highlight the need for market diversification and caution against over-reliance on Gulf states.

What was the UAE minister's statement regarding oil production capacity?

What does Macron's statement suggest about the future of oil production agreements?

What did Macron imply about the market's dependence on Saudi Arabia?

How is Russian oil output expected to change, and what impact might this have?

What are the implications of the G7 discussions regarding Russian oil?