UAE’s ADNOC to increase oil supply to over 4 mbpd in April

11/03/2020 Argaam

 

UAE’s national oil company, Abu Dhabi National Oil Co, is ready to boost oil supplies by around 1 million barrels per day (mbpd) to 4 mbpd in April.

 

"In line with our production capacity growth strategy, we are in a position to supply the market with over four million barrels per day in April," WAM reported, citing ADNOC Group CEO Dr. Sultan Ahmed Al Jaber.

 

"In addition, we will accelerate our planned 5 million bpd (output) capacity target," he added.

 

ADNOC said it will announce new prices for March and April deliveries to ensure that customers have visibility of the price so to plan accordingly.

 

On Tuesday, Saudi Arabia announced plans to raise its production to 12.3 mbpd in April.

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