US Pressure UAE again Reduce Oil Production in June

The UAE announced today, Monday, that it will make an additional reduction in its oil production by a hundred thousand barrels per day in June, above its obligations under the “OPEC +” agreement, similar to Saudi Arabia and Kuwait.

UAE Minister of Energy and Industry Suhail Al Mazrouei said that the UAE will voluntarily reduce its additional oil production by 100,000 barrels per day for next June in support of Saudi Arabia to restore balance to the global oil market.

He added that “after the UAE oil production ceiling exceeded 4 million barrels per day in April, the country supports the OPEC agreement, adhering to the established quotas.”

Saudi Arabia announced earlier today, its intention to reduce its oil production voluntarily for the month of June by one million barrels per day, which immediately reflected on the prices of “black gold”, which rose immediately by more than 5%.

Kuwaiti Oil Minister Khaled al-Fadil revealed that his country will voluntarily reduce its oil production by 80,000 barrels per day in June, above its commitment under the “OPEC +” agreement.