UAE - Mubasher: The UAE is committed to decreasing its oil production from its current level of 4.1 million barrels per day (mbpd) in line with the new OPEC+ agreement.
This announcement was made by the UAE Minister of Energy and Industry, Suhail Al Mazrouei through his official twitter account following the virtual meeting held between OPEC and its allies on Sunday, 12 April.
During the meeting, OPEC and its allies reached a historic agreement to cut oil production by around 9.7 mbpd for the next two months, finalising previously held-up negotiations over production cut.
The US, Brazil, and Canada are also expected to contribute with an additional cut of 3.7 mbpd as their crude oil production declines.
