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UAE, Kuwait maintain OPEC's quota
- Middle East: Monday, September 28 - 2009 at 09:38
According to figures by Riyadh-based Joint Oil Data Initiative, oil production by the UAE and Kuwait in July had been within OPEC limits while Saudi Arabia had slashed output by more than 100,000 barrels per day to get closer to its quota assigned by the group, Emirates Business has reported. The UAE has trimmed supplies by more than 300,000 bpd since September while the cut by Kuwait and Iran stood at over 400,000 bpd. As a whole, the five Gulf OPEC oil producers have slashed their crude supplies by just below three million bpd since September, when their combined production stood at around 19.92 million bpd, Jodi figures showed.
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StaffMonday, September 28 - 2009 at 09:38 UAE local time (GMT+4)
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