The United Arab Emirates will not act on its own to increase oil production, a UAE source familiar with the matter told Reuters.

The Gulf oil producer remains committed to the OPEC+ alliance and the Energy Department is responsible for oil policy, the source said on condition of anonymity.

UAE Ambassador to Washington Yousef Al Otaiba said earlier that Abu Dhabi is in favor of increasing oil production and will urge OPEC to consider increasing production.

But in a later statement, Energy Minister Suhail al-Mazrui said the country believes in the value OPEC+ brings to the market.

So far, OPEC+ has resisted calls from the US and its allies to increase production, even as oil prices have soared to more than $120 a barrel.