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UAE to increase oil output to 3.5mb/d by 2009
The UAE, which has a current production of 2.7 million barrel per day (BPD) is working to increase its oil output to 3.5 million barrel per day, by 2009, according to Energy Minister Mohammed bin Dhaen Al Hameli. Al Hameli, who is the current OPEC President, made the remarks during a meeting in Abu Dhabi yesterday with a visiting delegation of U.S. journalists. He said that oil market has currently enough supplies, attributing the rise in prices to political tension in some production areas, market speculations and refining bottleneck in some producing countries.
(Emirates News Agency, WAM)
MidEast.RU, June, 14th 2007
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