The United Arab Emirates continues to accelerate its plans to increase its oil production, as part of its endeavor to benefit from its enormous reserves and secure a larger share of the global crude market. These efforts are reinforced through large investments in oil field development projects and the expansion of the rig fleet, in parallel with maintaining its commitment to the agreements. OPEC+.

The UAE seeks to raise its oil production ceiling to 5 million barrels per day by 2027, instead of 2030 as previously planned. Estimates indicate that achieving this ambitious goal may push the UAE to aim to increase production to 6 million barrels per day by the end of the decade. To enhance its contribution to meeting the growing global energy needs.

The UAE has huge oil reserves estimated at about 111 billion barrels, representing 7% of the total proven oil reserves around the world. The UAE's reserves constitute 8.9% of OPEC's total reserves, 96% of which are concentrated in the Emirate of Abu Dhabi. This natural wealth provides promising investment opportunities to attract foreign investments and promote sustainable economic development.

Expectations indicate the possibility of oil production in the UAE rising to 3.22 million barrels per day starting from January 2025, if the production reduction agreement for the OPEC+ coalition countries is not extended beyond December 2024.