Abu Dhabi-Mubasher: The UAE is continuing its plan to increase the oil production to 3.5 million barrels by the end of 2018, according to the UAE energy minister Suhail Al Mazrouei.
Talks over the increase of production capacity does not mean that this will be directed to exports, CNBC Arabiya quoted Al Mazrouei as saying.
The UAE supports Saudi Arabia and is optimistic about their convergence of views and the oil-cooperation agreement between the Kingdom and Russia to closely work with OPEC for the balance of oil markets.
He warned that any expectations regarding the upcoming OPEC meeting in Algeria do not benefit the market.
OPEC member states will meet on the sidelines of the International Energy Forum (IEF) in Algiers on 26-28 September.
