ADNOC Raises Oil Capacity to 4.85M BPD, Eyes 5M by 2027

May 2, 2024, 12:12 PM

Abu Dhabi National Oil Co. (ADNOC) has quietly increased its self-reported oil production capacity to 4.85 million barrels per day (bpd), up from 4.65 million bpd. This marks the third increase in less than a year as the company progresses towards its target of 5 million bpd by 2027. The update was reported on the company's website and reflects the UAE's strategic push to expand its oil output ahead of an upcoming OPEC meeting.