Saudi Arabia, UAE defend oil production cuts as US warns of ‘economic uncertainty

Saudi Arabia and the United Arab Emirates defended the decision by OPEC and its allies to cut oil production, even as an American envoy warned of “economic uncertainty” ahead for the world.  Emirati Energy Minister Suhail al-Mazrouei said that OPEC and its allies are “only a phone call away if the requirements are there” to raise production and that “the United Arab Emirates, as well as [their] fellow colleagues in OPEC+ are keen on supplying the world with the requirement it needs,” although “at the same time, we’re not the only producers in the world.”