UAE To Hit Its Oil Capacity Increase Sooner Than Expected

The United Arab Emirates is set to achieve its oil production capacity goal ahead of schedule, with the Abu Dhabi National Oil Co. (Adnoc) expected to reach a capacity of 5 million barrels per day by the end of 2025 or early 2026, surpassing its original target of 2027, according to anonymous sources who spoke to Bloomberg. This accelerated timeline is anticipated to create friction within the Organization of Petroleum Exporting Countries and its allies (OPEC+), which will review member capacities later this year to set production baselines for…