Saturday June 15th, 2024
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UAE's Oil Production to Rise by 300,000 Barrels per Day in 2025

This adjustment will set the UAE's new reference production level at 3.519 million barrels per day.

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UAE's Oil Production to Rise by 300,000 Barrels per Day in 2025

The UAE has been granted an increase of 300,000 barrels per day in its crude oil production for 2025, as decided in the 37th OPEC and non-OPEC Ministerial Meeting. This adjustment will set the UAE's new reference production level at 3.519 million barrels per day, to be gradually implemented from January to September 2025.

The decisions are part of a broader commitment by OPEC and its non-OPEC partners in the Declaration of Cooperation (DoC) to maintain a stable oil market. The agreement extends the current overall crude oil production levels for all participating countries from January 1st, 2025, to December 31st, 2025.

Additionally, the meeting highlighted that the total voluntary production cuts by some member countries have reached 2.2 million barrels per day, while the total cuts by OPEC+ members amount to 5.86 million barrels per day, extended until the end of next year.

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