OPEC compromises with UAE in oil production
(VOVWORLD) - The United Arab Emirates (UAE) and the Organization of the Petroleum Exporting Countries (OPEC) have reached an agreement, whereby the basic production of the UAE will be increased to 3.65 million barrels per day, Bloomberg said Wednesday.
 Illustrating photo by AFP/VNA |
The agreement will take effect next May.
The UAE, currently producing more than 3.1 million barrels per day, hopes to eventually raise the number to 3.8 million.