Middle-east Arab News Opinion | Asharq Al-awsat

UAE to Increase Oil Output to 3.5 M (BPD) by 2009 | ASHARQ AL-AWSAT English Archive 2005 -2017
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Abu Dhabi, Asharq Al-Awsat – The United Arab Emirates (UAE), which has a current production of 2.7 million barrels per day (BPD) is working to increase its oil output to 3.5 million barrels per day, by 2009, according to the UAE 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, according to a report by the UAE news agency “WAM.”