Royal Bank of CanadaThe capital market (RBC(Capital Markets) reports that OPEC+ is currently experiencing the worst crisis since last year's price war, and doubts about whether the UAE will still be part of OPEC may further intensify in the next few days.

RBC analysts such as Helima Croft said in the report that since the launch of the Muban benchmark in March, the UAE's OPEC membership and the persistence of its willingness to continue to idle valuable production capacity has always been a big question mark. The dispute between the UAE and Saudi Arabia seems to have gone beyond the scope of oil policy. The UAE seems intent on stepping out of Saudi Arabia's shadow and following its own path in global affairs.

Without announcing a new conference date, the group will default to implementing the original production reduction schedule. Despite increasingly tight market supply, OPEC+'s production reduction plan of 5.8 million barrels per day will remain unchanged.