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Saudi Arabia, UAE reach maximum oil production capacity: Macron

Saudi Arabia, UAE reach maximum oil production capacity: Macron

Arab Finance: Saudi Arabia and the UAE will not be able to increase their oil production capacity, French President Emmanuel Macron reportedly told President of the United States Joe Biden on June 27th, according to Reuters.

Macron said that he contacted the UAE’s President Sheikh Mohammed bin Zayed Al-Nahyan and he confirmed that his country is at maximum production capacity.

Saudi Arabia will be able to add only 150,000 barrels per day (bpd) to its output capacity, Macron noted.

Commenting on the matter, the UAE’s Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei revealed to the Emirates News Agency (WAM) that Abu Dhabi is near its maximum production capacity based on the current baseline laid out by OPEC+, which amounts to 3.168 million barrels per day (mbpd).

On June 8th, Al-Mazrouei said he thinks that the efforts exerted by OPEC+ to increase oil production are not promising.

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