{"id":1367171,"date":"2022-03-09T13:45:58","date_gmt":"2022-03-09T18:45:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1367171"},"modified":"2022-03-09T13:46:01","modified_gmt":"2022-03-09T18:46:01","slug":"oil-crashes-on-uae-statement-in-favor-of-boosting-oil-output","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-crashes-on-uae-statement-in-favor-of-boosting-oil-output\/","title":{"rendered":"Oil Crashes on UAE Statement in Favor of Boosting Oil Output"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Foil-crashes-on-uae-statement-in-favor-of-boosting-oil-output%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1367171&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">The price of oil crashed on Wednesday after the UAE reportedly said it would encourage fellow OPEC members to increase oil production levels.<\/p>\n<p>\u201cWe favor production increases and will be encouraging OPEC to consider higher production levels,\u201d said Yousef al-Otaiba, the UAE\u2019s ambassador to Washington. This statement was first reported <a href=\"http:\/\/\u201cWe%20favor%20production%20increases%20and%20will%20be%20encouraging%20OPEC%20to%20consider%20higher%20production%20levels,\u201d%20Yousef%20al-Otaiba,%20the%20UAE\u2019s%20ambassador%20to%20Washington,%20said%20in%20a%20statement%20on%20Wednesday,%20which%20was%20first%20reported%20by%20the%20Financial%20Times.\">by the Financial Times.<\/a><\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>\u201cThe UAE has been a reliable and responsible supplier of energy to global markets for more than 50 years and believes that stability in energy markets is critical to the global economy,\u201d he continued.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>West Texas Intermediate crude futures, the U.S. benchmark,\u00a0 were down by more than 10 percent at 1 P.M. eastern standard time. Brent crude was down by 10.9 percent.<\/p>\n<p>OPEC and related oil producers have resisted pleas from the Biden administration to increase production as oil prices rose. The Biden administration began calling for more oil from abroad last year, months before the Russian attack on Ukraine. Leaders in Saudi Arabia and the UAE <a href=\"https:\/\/www.breitbart.com\/middle-east\/2022\/03\/09\/report-saudi-uae-leaders-refuse-to-take-joe-bidens-calls-on-ukraine-oil\/\">reportedly<\/a> refused to take calls from Biden recently.<\/p>\n<p>It is not clear if UAE has consulted with the Saudis or other OPEC members about this apparent change of heart.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of oil crashed on Wednesday after the UAE reportedly said it would encourage fellow OPEC members to increase oil production levels. \u201cWe favor production increases and will be<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1367171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1367171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1367171"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1367171\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1367171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1367171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1367171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}