UAE to cut additional oil output of 100,000 bpd in June, says energy minister
The United Arab Emirates will cut its oil output by 100,000 barrels per day more in June than its commitments under the OPEC+ pact, its energy minister said on Monday, joining Saudi Arabia and Kuwait in announcing new crude supply reductions.
“In support of efforts led by the Kingdom of Saudi Arabia to further restore stability to energy markets, the UAE has committed to undertake an additional voluntary cut of 100,000 barrels per day in the month of June,” Suhail al-Mazrouei said in a statement.
Kuwait joined Saudi Arabia on Monday in announcing fresh oil production cuts to be implemented in June, state news agency KUNA reported, citing Oil Minister Khaled al-Fadhel.
Kuwait joins Saudi Arabia in extra oil cuts with additional 80,000 barrels per day