UAE to reduce oil output by 100,000 bpd in June

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Abu Dhabi, May 11 (BNA): Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy and Industry, has announced that his country will voluntarily cut its oil output by 100,000 barrels per day in June in a bid to back Saudi Arabia's efforts to rebalance the world oil market.

 

UAE News Agency (WAM) quoted the minister as saying that ''while the UAE successfully achieved production of over 4 million barrels a day in early April, it has subsequently reduced its production in line with the OPEC+ agreement,'' he said.

 

''In support of efforts led by the Kingdom of Saudi Arabia to further restore stability to energy markets, the UAE has committed to undertake an additional voluntary cut of 100,000 barrels per day in the month of June,'' he added.

 

WHQ