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6/27, 9:35 PM (Source: TeleTrader)
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UAE produces over 3 million barrels per day

United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui revealed on Monday that the country is operating at nearly full capacity, "based on its current OPEC+ production baseline (3,168 mbopd) [3.2 million barrels per day] which UAE is committed by until the end of the agreement."

Following the announcement to increase oil production by 648,000 barrels per day in July and August, the energy minister stated earlier this month that OPEC+'s capability to produce the quantities of oil required by the world is "not encouraging." Russian Deputy Prime Minister Alexander Novak stated that the group will work together to ensure the global energy market, as Russia and Saudi Arabia account for half of the alliance's production and are the organization's largest members.

Baha Breaking News (BBN) / AB