UAE Won’t Make Extra Voluntary OPEC+ Output Cuts at This Time
- The nation is already ‘doing enough’ says energy minister
- Existing curbs sufficient to balance the oil market: Mazrouei
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The United Arab Emirates won’t be making further voluntary OPEC+ oil production cuts at the present time, said the country’s energy minister.
The UAE is “doing enough” to contribute to the OPEC+ supply curbs, Energy Minister Suhail Al Mazrouei told reporters in Vienna. He noted the large difference between the nation’s current output — seen at 3.07 million barrels a day last month according to a Bloomberg survey — and its full capacity of 4 million barrels a day.