OPEC has surplus capacity to make up for shortfall: UAE
Image via WikipediaDubai, Apr 7 (PTI) Oil producing countries that have surplus production capacity provided international oil companies with additional quantities of crude, UAE Energy Minister Mohammed bin Dha''en Al Hameli has said.
Addressing the 12th International Oil Summit in Paris on Wednesday, Al Hameli said that OPEC members are not the only producers that are providing additional supplies, noting that non-OPEC supplies were expected to reach 500,000 barrels a day this year.
The conference is debating the recent developments on the energy and in particular the outlook for the oil industry.