UAE Oil Production Compensates for Libyan Disruption

The UAE has increased oil production in part to compensation for production disruptions in Libya. Data for September, release by the International Energy Agency (IEA) shows that oil output in September rose 0.8 percent to 2.55 million barrels per day. Both the UAE and Kuwait increased output to the highest level in three years. Saudi Arabia, which had increased production by 1 million barrels per day is now scaling back production.