Opec+ likely to agree another oil output hike without UAE: sources

Opec+ is expected to agree on another oil production increase, with sources indicating the move will proceed even without participation from the UAE. The decision reflects growing pressure to address tightening global supply and rising prices, though the absence of UAE buy-in may limit the actual volume of additional output. This highlights a divergence in capacity and strategy within the group, potentially undermining the cohesion of future supply management. The market will focus on the extent of the announced hike and whether other members can compensate for the UAE's restraint, with implications for spare capacity utilization and price volatility. Traders will watch the official Opec+ announcement and subsequent secondary storage data for signs of whether increased quotas translate into higher flows.

Crude oil (WTI/Brent) reacts in real time to OPEC+ production decisions, EIA weekly inventory reports, geopolitical supply disruptions (Middle East, Russia, Venezuela) and US Strategic Petroleum Reserve announcements. A 5% intraday move on breaking news is not unusual.

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