UAE Oil Output Hits All-Time High, Doubling Pre-Crisis Levels

UAE Oil Output Hits All-Time High, Doubling Pre-Crisis Levels Confirming reports from earlier this week, the latest estimates from the International Energy Agency signaled that the United Arab Emirates (UAE), which unexpectedly quit OPEC earlier this year in a shock move that threatened the cohesion of OPEC, produced 4.1 million barrels per day (bpd) of crude oil in June, its highest output ever. The UAE’s crude oil production jumped from 3.3 million bpd in May to 4.1 million bp...

By Tyler Durden