ABU DHABI: The United Arab Emirates will extend its voluntary cut of 144 thousand barrels per day until the end of December 2024, as a precautionary measure, in coordination with the countries participating in the OPEC Plus agreement, which had previously announced voluntary cuts in April.

A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) on their headquarters in Vienna, Austria, June 2, 2023. REUTERS/Leonhard Foeger
A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) on their headquarters in Vienna, Austria, June 2, 2023. REUTERS/Leonhard Foeger
A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) on their headquarters in Vienna, Austria, June 2, 2023. REUTERS/Leonhard Foeger (Reuters)

This voluntary cut will be from the required production level, as agreed upon at the thirty-fifth ministerial meeting of OPEC Plus on June 4, 2023.