DUBAI, United Arab Emirates —
The
UAE is close to its oil output ceiling under OPEC+ agreements, an official
said, ahead of a regional visit by US President Joe Biden, who is expected to
lobby for increased production.
اضافة اعلان
The Gulf state stressed it was committed to the
OPEC+ figure of 3.168 million barrels of oil per day. Biden will visit neighboring
Saudi Arabia, the world’s biggest oil exporter, as part of his tour next month.
“The UAE is producing near to our maximum production
capacity based on its current OPEC+ production baseline, which the UAE is
committed to until the end of the agreement,” said Energy and Infrastructure
Minister Suhail bin Mohammed Al-Mazrouei, according to the official WAM news
agency.
Oil production has come into sharp focus since
Russia’s invasion of Ukraine triggered extreme volatility in the markets,
raising prices of fuel and other goods around the world.
Biden’s visit comes after
British Prime Minister Boris Johnson flew to the UAE and Saudi Arabia in March but failed to secure
any increases in production.
The Gulf countries and Russia are members of the
OPEC+ group of oil producers, which accelerated production this month but is
under pressure to deliver more.
On Monday, at the
G7 meeting in Germany, French
President Emmanuel Macron was caught by the cameras telling Biden details of a
conversation with UAE leader Sheikh Mohamed bin Zayed Al-Nahyan.
According to Macron, Sheikh Mohamed said the UAE was
at its “maximum” capacity and Saudi Arabia could raise production by only
150,000 barrels of oil per day.
The UAE is able to produce 4.2 million bpd,
according to its declared maximum production capacity.
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