Since April this year, the oil company Emirates ADNOC will increase oil production by more than 1 million barrels per day (b/d).
As the Wave passes, it said in a statement.
It is noted that the company will also increase production capacity to 5 million b/d.
“In accordance with our strategy, endorsed by the Supreme petroleum Council, we intend to supply the market with more than 4 million b/d in April. In addition, we are increasing our production capacity to 5 million b/d”, — underlined in the message.
In addition, the company in the next time declared a “clear and transparent prices” of oil to its buyers.
“The UAE has announced that it will increase in April oil production by 1 million b/d, from 3 to 4 million b/D. as far As I remember, they have a production capacity of 3.6 million b/d. Then connect the new wells, and the first months will be to sell stocks. The case when all want to participate in the massacre of the innocents”, — said in the Telegram to channel Ateo.
It should be noted that earlier an expert on the global economy of UAE nail al-Jawabra reported that oil prices near $30 per barrel or below will not be stored for a long time and will begin to rise in the second half of 2020.