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UAE will reduce oil output by 100,000 bpd in June

12 May 2020 21:24
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UAE will reduce oil output by 100,000 bpd in June

ABU DHABI. KAZINFORM - Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, announced that the UAE will voluntarily cut its oil output by 100,000 barrels per day in June in a bid to back Saudi Arabia's efforts to rebalance the world oil market.

''While the UAE successfully achieved production of over 4 million barrels a day in early April, it has subsequently reduced its production in line with the OPEC+ agreement,'' he said.

''In support of efforts led by the Kingdom of Saudi Arabia to further restore stability to energy markets, the UAE has committed to undertake an additional voluntary cut of 100,000 barrels per day in the month of June,'' he added.

Source: WAM News



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