The UAE's oil sector is expected to rebound strongly in 2025, driven by OPEC production cuts and significant investments in production capacity.
The oil sector in the United Arab Emirates UAE is set to rebound with strong growth of 7.8% next year, as OPEC will begin unwinding its oil production cuts in December 2024, the National Bank of Kuwait said in its latest macro outlook on one of OPEC ’s biggest producers. The UAE ’s oil economy will rebound next year from the lackluster growth of 0.4% expected for 2024, NBK said. The bank’s analysts expect oil production in the UAE to reach 3.4 million barrels per day bpd by the end of 2025.
“At the rate that state-owned ADNOC and its partners are ramping up $30 billion of upstream oil and gas projects MEED estimates, the UAE is likely to reach its 5 mb/d production capacity target one year early, in 2026,” NBK analysts wrote in the macro report. Earlier this year, Abu Dhabi National Oil Company ADNOC raised the production capacity at one of its offshore oilfields by 25% using AI technology as the UAE looks to boost its total crude oil production capacity to 5 million bpd by 2027.
Oil Production OPEC ADNOC Economic Growth Fiscal Surplus Gulf Cooperation Council GCC Oil Prices AI Technology
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