The UAE boosted its crude production by about 85,000 b/d in July, an industry source familiar with the country’s oil operations told S&P Global Platts, as OPEC loosens the taps under a supply accord signed in June. Receive daily email alerts, subscriber notes & personalize your experience. Register Now UAE production averaged 2.975 million b/d in July, the source said, which would be the highest since the country reported output of 2.977 million b/d in July 2017. The UAE said its June production was 2.890 million b/d. The increase came across all the country’s grades, the source said on condition of anonymity. OPEC on June 23 agreed with Russia and nine other allies on a 1 million b/d output increase to head off any supply shortages expected from US sanctions on Iran and Venezuela’s continued decline, among other market disruptions. The producer group has not said how […]