UAE extends voluntary oil production reduction to Dec, 2024

Uae extends voluntary oil production reduction to dec, 2024

The United Arab Emirates (UAE) has announced that they would continue their voluntary production reduction of 144 thousand barrels per day through the end of December 2024.

OPEC+ countries will also participate in oil cut with UAE

This precautionary move, in conference with the countries participating in the Opec+ agreement, which had already declared voluntary reduction in the month of April.

This voluntary production decrease will be taken from the needed production level, which was decided upon during the thirty-fifth ministerial meeting of Opec+ on June 4, 2023.

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Huma Gull
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