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OPEC leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a "significant increase" in oil output should the world face a severe supply crisis this winter, sources familiar with the thinking of the top Gulf exporters said. There are no specific quantities which have been agreed upon, but Saudi Arabia, the UAE and some other OPEC members possessed around 2.0-2.7 million bpd of spare production capacity, the source claimed.

Exclusive: Saudi, UAE save oil firepower in case of winter supply crisis

OPEC leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output should the world face a severe supply crisis this winter, sources familiar with the thinking of the top Gulf exporters said. There are no specific quantities which have been agreed upon, but Saudi Arabia, the UAE and some other OPEC members possessed around 2.0-2.7 million bpd of spare production capacity, the source claimed.

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