OPEC AND OIL PRICES

Otaiba Reiterates UAE Demand for Higher Quota, but Warns against any Attempt to Raise Prices

The UAE Oil Minister, Dr. Mana Saeed al-Otaiba, has again demanded that the UAE should be given a higher quota at the June OPEC conference. Dr. Otaiba told the UAE daily al-Ittihad on 12 May that "the UAE quota is unfair, as our known oil reserves exceeded 96bn barrels plus a production capacity of 4mn b/d," and that "the problem of the UAE share should be solved...