Bigger OPEC+ Quota Will Help Boost UAE’s Economic Growth ...Middle East

A higher oil production quota will help to stimulate economic growth in the United Arab Emirates this year, according to a forecast by FocusEconomics cited by the Khaleej Times. Last year, the UAE produced less oil than it did in 2022, but for this year it negotiated a higher quota with its partners in OPEC+. For the duration of the year, the UAE can produce up to 3.219 million bpd of crude. Still, that would mean cutting production during the first quarter of the year by some 160,000 bpd, the Khaleej Times report noted. That would be equal to…

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