UAE Oil Output Climbs After Leaving OPEC
AI Summary
Following its departure from OPEC, the United Arab Emirates has increased crude oil production to near-record levels above 3.8 million barrels per day in June. The rise in production and exports reflects UAE's strategic move to exceed previous caps and capitalize on global oil markets.
The United Arab Emirates raised its crude output to near record highs above 3.8 million barrels per day in June, after the Gulf nation quit OPEC to escape production caps, Reuters reported citing two sources familiar with production data said on Monday. Bloomberg data showed even higher UAE exports, rising to 3.94mmb/d, just shy of the record hit in late 2025. June's output was the highest since April 2020, according to Reuters estimates, exceeding levels seen before the Iran war and providing an early vindication…