Business | Oil & Gas
UAE's crude output increases 0.38% in May
The UAE's crude output rose 0.38 per cent on the month to 2.66 million barrels per day (bpd) in May, the International Energy Agency (IEA) said in its latest report yesterday.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 00:03 June 12, 2008
Abu Dhabi: The UAE's crude output rose 0.38 per cent on the month to 2.66 million barrels per day (bpd) in May, the International Energy Agency (IEA) said in its latest report yesterday.
The UAE pumped an average 2.65 million bpd in April and 2.54 million bpd of crude oil in March this year.
The report said the UAE has a sustainable oil production capacity of 2.85 million bpd and its production capacity at the end of 2008 is seen at 2.87 million bpd.
Officials at the Ministry of Energy and executives of the Abu Dhabi National Oil Company (Adnoc), the country's flagship oil and gas producer, were not immediately available for comment.
The combined oil production by all 13 Opec member countries averaged 32.30 million bpd in May, 1.22 per cent higher than the group's April output of 31.91 million bpd, said the agency, which advises 27 industrialised countries on energy policy.
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