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FINANCIAL NEWS
UAE oil production up in August
12 Sep 2014
(MENAFN) The UAE’s oil production levels increased slightly in August despite a reduction in global demand of oil, Gulf News reported.
UAE production levels increased by 20.000 barrels per day (bpd) in August to reach 2.85 million bpd compared to 2.83 million bpd in July.
Due to the UAE mainly exporting oil to Asia, the country was not affected by the decrease in oil demands like her neighboring countries like Saudi Arabia, which cut its production by 330.000 bpd in August due to a reduction in exports to the United States.
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