The UAE continues to produce above pre-conflict levels as its oil sector shows considerable resilience. Production averaged 3.91mn b/d in September, the highest level since the short-lived production surge in April 2020 during the initial wave of the Covid-19 pandemic. MEES calculated April 2020 production at 3.91mn b/d, against official output figures of 4.03mn b/d.
The production gains are welcome news for global oil markets which are increasingly tight as the conflict approaches the eight-month mark (MEES, 9 October). (CONTINUED - 327 WORDS)
