ID :
35462
Sat, 12/13/2008 - 14:56
Auther :
Shortlink :
http://m.oananews.org//node/35462
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UAE's oil output fell 10.43% last month
The UAE's oil output fell 10.43 per cent in November to 2.3 million barrels per day (bpd), the International Energy Agency (IEA) said in its latest oil market report.
The fall was due to the UAE's implementation of crude oil supply cuts in line with the October decision of the Organisation of Petroleum Exporting Countries (OPEC).
Officials at the UAE's Ministry of Energy and executives at the Abu Dhabi National Oil Company (Adnoc), which produces nearly 94 per cent of the country's oil, were not immediately available for comment.
Kate Dourian, Middle East editor of energy information provider, Platts told Gulf News that the UAE is among the OPEC countries that have a good compliance record with OPEC quotas. "The UAE's oil output for November is slightly below the revised target as some of its producing fields were under maintenance." – Gulf News
The fall was due to the UAE's implementation of crude oil supply cuts in line with the October decision of the Organisation of Petroleum Exporting Countries (OPEC).
Officials at the UAE's Ministry of Energy and executives at the Abu Dhabi National Oil Company (Adnoc), which produces nearly 94 per cent of the country's oil, were not immediately available for comment.
Kate Dourian, Middle East editor of energy information provider, Platts told Gulf News that the UAE is among the OPEC countries that have a good compliance record with OPEC quotas. "The UAE's oil output for November is slightly below the revised target as some of its producing fields were under maintenance." – Gulf News
