OPEC Monthly Report: The United Arab Emirates told OPEC that its oil production surged 80% last month because Abu Dhabi found an alternative to the war with Iran and was free to increase production after withdrawing from the Organization of OPEC. The UAE informed OPEC that its crude oil production in June was 3.8 million barrels per day, an increase of 1.71 million b/d over May.

OPEC Monthly Report: The United Arab Emirates told OPEC that its oil production surged 80% last month because Abu Dhabi found an alternative to the war with Iran and was free to increase production after withdrawing from the Organization of OPEC. The UAE informed OPEC that its crude oil production in June was 3.8 million barrels per day, an increase of 1.71 million b/d over May.