Abu Dhabi – Mubasher: The UAE is fully committed to the Organization of Petroleum Exporting Countries’ (OPEC) plan to balance oil market, according to the GCC’s nation Minister of Energy and Industry Suhail Al Mazrouei.
By the end of March, the UAE’s oil product hit 3.043 million barrel per day (mbpd), compared to the amount agreed upon 3.072 mbpd, state news agency WAM said.
Al Mazrouei, who doubles as OPEC president, added that the country has no intention to raise its production without coordination with producers.
The UAE has the ability to increase production to 3.5 mbpd should the necessity arise.
“We need to have eligible requirement from the market and from our consumers,” Al Mazrouein commented.
