The UAE has exceeded the quota for oil production

News

The UAE has exceeded the quota for oil production

04.09.2020 News

In August, oil production in the UAE rose to 2.69 million barrels per day, while under the OPEC + agreement the quota is 2.59 million barrels. This was announced on Tuesday, September 1, Minister of Energy Suhail al-Mazrui.

Exceeding the quota of 100 thousand barrels per day was caused, according to the official, by increased energy consumption in the country.

“We have taken measures to compensate for this temporary increase, which is associated with peak summer loads on the energy supply system. This leads to increased production of oil and associated gas “, – stated in the message.

Al-Mazrui assured that in October, the state-owned company ADNOC will reduce exports of all types of oil by a third.

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