Abu Dhabi National Oil Co. (ADNOC) is likely to reach its 5 Mln bpd goal by the end of next year or early 2026, ahead of the 2027 goal the company had set, according to people with knowledge of the operations, Bloomberg reported.
“The UAE is not doing this to generate spare capacity, they’re investing to produce this stuff,” said Ben Cahill, a senior fellow in the Center for Strategic and International Studies. “There’s a tension that is emerging and will be with us for some time within OPEC+.”
ADNOC declined to comment on its capacity target.
ADNOC’s initial goal was to reach 5 million barrels a day by 2030, before bringing it forward to 2027.