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FINANCIAL NEWS
Oil production in Abu Dhabi increases 6.8 percent
07 Dec 2013
(MENAFN) The National Bank of Abu Dhabi (NBAD) reported that the emirate produced 2.83 million barrels per day (bpd) in September, which is 6.8 percent more than the average recorded in the same month a year ago, Khaleej Times reported.
Oil income affected current account forex inflows which increased 15.8 percent year-on-year to USD372.5 billion including USD118 billion from oil related exports, while non-oil exports increased 21.8 percent to USD232 billion.
The current account outflows in the country also increased due to increased imports which came USD221.9 billion, growing 13.5 percent, and the remittances which went up 9.5 per cent to USD12.3 billion.
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