Fresh headlines are crossing the wires from the UAE official, via Reuters, citing that it is fully committed to OPEC and its allies (OPEC+) agreement.

The UAE said that it has no "prior stance" ahead of the upcoming OPEC+ meeting.

The OPEC+ is due to meet next week to discuss output policy.

Market reaction

WTI is trading modestly flat around $78.50, as of writing, lacking a fresh impetus amid holiday-thinned markets.