Abu Dhabi: The UAE’s oil output averaged 2.70 million barrels per day (bpd) in July, marginally lower than the estimated 2.73 million bpd in June, the latest data from the International Energy Agency (IEA) shows.

“Supplies from the UAE were off marginally in July, down 25,000 bpd from June,” said the Paris-based IEA, which advises 28 industrialised nations on energy policy.

It said, for the first half of 2013, the UAE’s average crude supply was 2.69 million bpd. The country had a sustainable oil production capacity of 2.90 million bpd at the end of July, the IEA added. The UAE’s average oil output last year was 2.65 million bpd, according to the IEA.

Officials at the UAE’s Ministry of Energy were not immediately available to comment on the IEA’s figures.

Abu Dhabi accounts for more than 90 per cent of the UAE’s crude oil output, the bulk of which is exported. The UAE intends to increase its oil production capacity to 3.5 million bpd by 2020 to help meet the rising global demand.

The official selling price (OSP) of Abu Dhabi’s four crude oil grades averaged $106 a barrel in July, higher than $102.26 a barrel average price reported for June, according to data from the Abu Dhabi National Oil Company (Adnoc).

Lower supply from some of the oil-producing countries drove international crude prices higher in July.

In July, the official selling price of the emirate’s most popular crude oil grade — Murban — was $106.85 a barrel, up from $103 a barrel in June, while Lower Zakum’s price was $106.60 a barrel last month, as per the data.

The official selling price of Umm Shaif crude oil grade in June was $106.15 per barrel and that of Upper Zakum crude was at $104.40 a barrel.

The Abu Dhabi Marine Operating Company (Adma-Opco), which is majority-owned by the Abu Dhabi National Oil Company (Adnoc), plans to invest at least $10 billion (Dh36.7 billion) in developing two offshore fields to boost the firm’s crude output by 60 per cent. Adma-Opco recently said that it plans to boost its output by 400,000 barrels a day to almost 1 million barrels a day by 2020.

The offshore oil and gas unit of Adnoc previously had said it planned to reach this target by 2017.

As per the plan, Adnoc will spend $40 billion on crude, natural gas, petrochemical and refinery projects from 2010 through 2014. Gas projects under construction account for $25 billion of that.

Abu Dhabi aims to start producing about 500 million cubic feet a day of sour gas in 2014 from a $10 billion venture with Occidental Petroleum Corp at its onshore Shah field. The Shah field is located 210 kilometres south-west of the capital.