UAE cuts 200,000 Bpd from daily output In March

The United Arab Emirates (UAE) cut daily crude oil production by nearly 200,000 barrels this month as required under the OPEC output cut deal.

The UAE will cut another 278,000 bpd over the next two months. Energy Minister Suhail al-Mazrouei said, “The deal is going well, with supply shrinking, which should improve demand.”