The United Arab Emirates and Saudi Arabia are world-famous oil-producing countries. On June 27, the French president asked the two brothers to extract as much oil as possible. But the other party's reply was that "it is almost impossible to increase production." After that, oil p

The United Arab Emirates and Saudi Arabia are world-famous oil-producing countries. 6htmlOn March 27html, the French President asked the two brothers to exploit as much oil as possible. But the other party's reply was that "it is almost impossible to increase production." After saying , oil prices, which had fallen back, went up again in the short term.

During the G7 summit, Macron reported this conversation to Biden . The output of these two major oil countries has reached the "highest" level, and it is difficult to exert greater production capacity. The production of in the UAE has also reached the upper limit in the "OPEC +" agreement, which also means that the UAE has "successfully completed the homework." The current attitude of the UAE is to continue its commitment to the cap until the end of the agreement.

Previously, the leaders of the United Arab Emirates and Saudi Arabia had refused to answer Biden's calls. Therefore, Biden is going to lose face and personally go to various major oil countries in the Middle East to "learn lessons", and is ready to urge Middle Eastern countries to increase oil production to control the soaring oil prices. Now, Macron’s words have shattered Biden’s dream of increasing oil production, and also brought investors back to reality, and oil prices have risen in the short term.

However, have the two brothers Saudi Arabia and the United Arab Emirates really "tried their best"? They are identified as the only two OPEC countries with idle production capacity and bear the responsibility of increasing oil supply, lowering oil prices and high inflation.

According to data from the International Energy Agency, the two brothers actually have a lot of idle production capacity! Especially Saudi Arabia, currently, Saudi Arabia can only maintain a maximum output of 11 million barrels per day, while the country's reported oil limit is 12.5 million barrels. The UAE's daily oil production is 3 million barrels, with a cap of 3.4 million barrels. However, the UAE has been spreading rumors that it will work hard to increase production to 4 million barrels.

Text | Wu Kaibin Title | Zeng Yi Review | Li Zepu