UAE Keeps May Output In Line With OPEC+ Commitment

The United Arab Emirates pumped 2.40 million barrels of crude per day (bpd) in May, in line with its commitment under the OPEC+ oil supply cut pact, an industry source familiar with the matter told Reuters on Sunday.

OPEC and its allies, a group known as OPEC+, agreed to cut supply by a record 9.7 million bpd from May 1 to offset an oil price and demand slump triggered by the coronavirus crisis. OPEC's share of the cut is 6.084 million bpd.