UAE extends voluntary oil output cut till December 2024

The United Arab Emirates will extend its voluntary cut of 144 thousand barrels per day until the end of December 2024.

This precautionary measure, in coordination with the countries participating in the Opec+ agreement, which had previously announced voluntary cuts in April.

This voluntary cut will be from the required production level, as agreed upon at the thirty-fifth ministerial meeting of Opec+ on June 4, 2023.