UAE to cut 144,000 bpd throughout 2024

The United Arab Emirates will extend its voluntary cut of 144 thousand barrels per day until the end of December 2024, as a precautionary measure, in coordination with the countries participating in the OPEC+ agreement, which had previously announced voluntary cuts in April. This voluntary cut will be from the required production level, as agreed upon at the thirty-fifth ministerial meeting of OPEC+ on June 4, 2023.