DUBAI: The United Arab Emirates aims to increase its oil production capacity to 3.5 million barrels per day (bpd) by 2018 from 2.7 million bpd now, said a government report released on Thursday.
The report from Abu Dhabi’s Department of Economic Development also estimated the emirate’s proven oil reserves at 98.2 billion barrels.
According to a Reuters survey, the OPEC member is producing below its current capacity, with output around 2.3 million bpd.
