The UAE is one of the few members of the Organization of the Petroleum Exporting Countries (OPEC) capable of increasing its output. Under pressure from consumers to act to tame record oil prices, OPEC's top producer
"We are always happy to put more oil in the market if the market needs more," Hamli told Reuters when asked if the UAE would raise supply with the Saudis. Hamli declined to say if the UAE planned to boost output in June.
OPEC officials have blamed factors beyond their control for high prices, such as speculation, the weak dollar and international political tension over
Consuming countries such as the
OPEC had no plans to hold an emergency meeting before the group's next scheduled gathering in September, Hamli said on arrival in