UAE plans to raise oil output to 3.5 million bpd in 2018

Oilprice.com reporting headlines from the Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates (UAE) released earlier this week, citing that the company  is looking to step up its crude oil production capacity to 3.5 million bpd next year, from the current 3-million-bpd capacity.

ADNOC’s plans to rely on offshore development to raise crude oil production are supported by the strategically located Port of Fujairah—the UAE’s only export terminal fully outside the Strait of Hormuz.