UAE’s oil production complies goal of 2.2m bpd

16 Feb 2011

(MENAFN) The Minister of Energy of the UAE, Mohammad Bin Dha’en Al Hameli, said that the country’s oil production is currently around 2.2 million barrels of oil per day (bpd), complying the goal set by the Organization of Petroleum Exporting Countries (Opec), reported Gulf News.

Al Hameli said that the country’s current oil production capacity amounted to 2.8 million barrels per day.

Speaking about the political unrest in Egypt, the minister said that the protests led to oil prices going up to above USD100 a barrel.

It is worth noting that Opec’s role in the oil market is not only to fix prices but also to organize production to make sure that the right amount of oil reaches consumers.

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