UAE Crude Output Tops 3.8 Million b/d After Leaving OPEC
The UAE pushed crude production above 3.8 million barrels per day in June, reaching its strongest level in years after leaving OPEC and removing quota limits, June output reached the country's highest level since April 2020 and topped pre-conflict production, the report said. The increase also backed Abu Dhabi's long-held view that years of capacity investment warranted greater freedom to supply global oil markets. While the UAE reported to OPEC that May crude output fell to 2.11 million b/d from about 3.4 million b/d in February, the International Energy Agency estimated substantially higher production in both months at 2.8 million b/d and 3.64 million b/d, respectively. Abu Dhabi National Oil Company did not immediately reply to ' request for comment.
The UAE pushed crude production above 3.8 million barrels per day in June, reaching its strongest level in years after leaving OPEC and removing quota limits, June output reached the country's highest level since April 2020 and topped pre-conflict production, the report said.
The increase also backed Abu Dhabi's long-held view that years of capacity investment warranted greater freedom to supply global oil markets.
While the UAE reported to OPEC that May crude output fell to 2.11 million b/d from about 3.4 million b/d in February, the International Energy Agency estimated substantially higher production in both months at 2.8 million b/d and 3.64 million b/d, respectively.
Abu Dhabi National Oil Company did not immediately reply to ' request for comment.