UAE exceeded its oil production quota

The UAE exceeded the OPEC+ oil production quota. In August, 2.69 million barrels of oil were pumped every day in the Emirates, which is 100 thousand barrels more than allowed by the agreement. According to the country’s Energy Minister, the additional volume was temporary, only for the summer season. At the same time, the UAE authorities took measures to compensate for overproduction. In October, oil supplies to buyers will be reduced by 30%.