Home Economy Analysis: OPEC disagreement lays bare growing UAE-Saudi economic rivalry

Analysis: OPEC disagreement lays bare growing UAE-Saudi economic rivalry

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Abu Dhabi’s Crown Prince Sheikh Mohammed bin Zayed al-Nahyan receives Saudi Crown Prince Mohammed bin Salman at the Presidential Airport in Abu Dhabi, United Arab Emirates November 27, 2019. WAM/Handout via REUTERS

DUBAI, July 5 (Reuters) – Rare public disagreement between the United Arab Emirates and Saudi Arabia over OPEC policy points to a growing economic rivalry between the two largest Arab economies which only looks set to intensify, several regional analysts said.

The UAE’s opposition this weekend to a proposed eight-month extension to output curbs, favoured by Saudi Arabia, was a rare display of defiance by Abu Dhabi, whose Crown Prince Mohammed bin Zayed al-Nahyan has been a staunch ally of Saudi Crown Prince Mohammed bin Salman.

The disagreement led the OPEC+ talks to be called off on Monday.

“The current OPEC standoff signals a wider push by the UAE to assert its economic and national self-interest vis-à-vis Saudi Arabia,” said Amir Khan,…

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