The United Arab Emirates (UAE) has invested heavily in increasing hydrocarbon production capacity and developing midstream and downstream infrastructure to accommodate future growth in hydrocarbon production. However, over the past 10 years, UAE actual production has averaged just less than 3 million barrels per day (b/d) because of production cut agreements between OPEC and non-OPEC participating countries (collectively known as OPEC+), according to our Country Analysis Brief: United Arab Emirates. The UAE national oil company, the Abu Dhabi National Oil Company (ADNOC), has set a target to increase crude oil production capacity to 5 million b/d by 2027, moving up its earlier 2030 target by three years, according to the Middle East Economic Survey.
