Six months after leaving OPEC, the United Arab Emirates on Monday began hosting ADIPEC, one of the world's largest energy conferences, where it told an audience of industry executives it had increased
Six months after leaving OPEC, the United Arab Emirates on Monday began hosting ADIPEC, one of the world's largest energy conferences, where it told an audience of industry executives it had increased oil exports in spite of the Iran war.
The UAE was for 59 years a pivotal member of the Organization of the Petroleum Exporting Countries. It said in April it would leave the group, weeks into the US-Israeli war with Iran. The war, which began at the end of February, has led to severe disruption of energy supplies and has driven oil prices higher.
UAE energy minister Suhail al-Mazrouei said at ADIPEC on Monday his country's exports on occasions had been better than before the war without giving precise details.
The UAE will protect its energy infrastructure and invest in new export routes, he told ADIPEC. The conference continues in Abu Dhabi until Thursday.
OPEC figures compiled from secondary sources support the comments. In September, the UAE pumped 3.917 million barrels per day of crude, up 15% from February, the figures show.
The September figure is 470,000 bpd more than the OPEC+ quota that would have applied to the UAE in May had it not left OPEC and
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