UAE to shut 150,000-200,000 bpd oil output Oct-Nov

DUBAI (Reuters) – OPEC-member the United Arab Emirates will reduce oil output by 150,000 to 200,000 barrels per day for 40 days in October and November for maintenance, an official at state oil company ADNOC said on Monday.

The scheduled shutdown will cut oil output from the world’s fifth-largest oil exporter by up to 7.5 percent. The UAE pumped around 2.6 million bpd in June, a Reuters survey showed.


“It’s for 40 days, around 150,000 to 200,000 bpd,” the official at Abu Dhabi National Oil Company (ADNOC) said, speaking on condition of anonymity.

The work will cut output just as consumers’ oil demand rises ahead of peak demand in the northern hemisphere for heating during winter. UAE crude is favoured by Japanese refiners making heating oil.

Reuters