Radi cited chronic dissatisfaction with quotas as the reason for the UAE's withdrawal from OPEC
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- Radi cited chronic dissatisfaction with quotas as the reason for the UAE's withdrawal from OPEC
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Radi: one of the reasons for the UAE's withdrawal from OPEC is chronic dissatisfaction with the quota system
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Photo: Global Look Press/Sebastian Kahnert
One of the reasons for the withdrawal of the United Arab Emirates (UAE) from OPEC is chronic dissatisfaction with the quota system. This was announced on April 29 by Namer Radi, deputy head of the Committee for International Cooperation and Export of Opora Russia.
He noted that the UAE produced 3-3.5 million barrels per day, and the capacity allows producing 4.0-4.8 million barrels per day. The large-scale investment plan of the national company ADNOC assumes an output of 5 million barrels per day by 2027.
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