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Abu Dhabi's ADNOC says oil production capacity reaches 4.85 million bpd

Abu Dhabi oil giant ADNOC's. production capability has reached 4.85 million barrels daily. ( bpd), it stated in a post on its website, up from the 4.65. million bpd it reported at the end of last year.

The announcement comes simply ahead of a June 1 conference in. Vienna of the OPEC+ alliance, which groups the Organization of. the Petroleum Exporting Countries and allies led by Russia, and. of which the UAE is a crucial member.

The United Arab Emirates has plans to raise its production. capacity to 5 million bpd by 2027 and has long lobbied to raise. its output within the OPEC+ arrangements.

The OPEC manufacturer has actually seen its target production figure. increase in the previous year, and it could rise further as it is. among a few countries working to improve production capability. Its. target output within the OPEC+ contract of 3.219 million bpd. covers only 2 thirds of its actual capability.

Production target discussions can get really dissentious. within the group, and at the end of in 2015, Angola

exited

the alliance shortly after being given a smaller sized. production target.

At its meeting in June, OPEC+ entrusted 3 independent. consultancies - IHS, Wood Mackenzie and Rystad Energy - to. examine the production capacities of all member nations by the. end of June this year. Those assessments will be used to. referral production levels from 2025, the group stated at the. time.

(source: Reuters)