October 11, 2018 / 5:31 AM / 5 months ago

UAE expects to raise oil output in October, November to meet demand: minister

FILE PHOTO - A worker grabs a nozzle at a petrol station in Tehran, Iran January 25, 2016. REUTERS/Raheb Homavandi/TIMA

DUBAI (Reuters) - The United Arab Emirates started to increase its oil production in the third quarter of this year and expects to further raise its output in October and November to meet market demand, the UAE’s Energy Minister Suhail al-Mazrouei said on Thursday.

“The UAE remains committed to working with its OPEC and non-OPEC partners to ensure balance and stability in the market, in the interests of both producers and consumers,” Mazrouei wrote on his official Twitter account.

The Gulf OPEC member’s December oil output “will be subject to customer’s demand” and the country’s oil production capacity will reach 3.5 million barrels per day by year-end, he added.

Writing by Rania El Gamal; Editing by Himani Sarkar

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