UAE oil production at 2.6m barrels

The United Arab Emirates current oil production is 2.6 million barrels per day, according to Energy Minister Mohammed bin Dhaen Al Hamili. In a statement made to Abu Dhabi today TV at the sidelines of the Arab and South American energy ministers meeting, Al Hamili said the UAE targets increasing production to 3 million bpd this year. "The UAE can produce 3 million barrels per day. We should differentiate here between actual production, and production capacity," he added. He said the UAE will continue its current production of 2.6 million bpd but can increase it to 3 million "if the market needed that."