“The important thing is that they faced a problem, and they overcame it,” Mr. Bahree said. The dispute with the Emirates could be a harbinger of changes that may drive wedges between the different members of the group, which includes OPEC along with Russia and its allies. “This latest OPEC bust-up highlights important changes in oil marketing strategy that are starting to spread across the global oil patch,” said Jim Krane, a fellow at Rice University’s Baker Institute. The United Arab Emirates, whose oil production is dominated by the emirate of Abu Dhabi, has for some time been moving in a direction likely to lead to differences with the rest of OPEC. Abu Dhabi is investing heavily in its national oil company, the Abu Dhabi National Oil Company, bringing in international companies to explore and develop new resources and bolster activities like refining and the trading of oil products.

Source: International New York Times July 18, 2021 12:02 UTC