Power demand pushes UAE August oil output above OPEC+ quota -sources

Power demand pushes UAE August oil output above OPEC+ quota -sources

DUBAI  - The United Arab Emirates pumped 2.693 million barrels per day in August, in breach of its OPEC+ quota, after hot weather and people holidaying at home drove associated gas demand for power generation, two sources familiar with the matter told Reuters.The output exceeds the country's quota under the OPEC+ supply pact by around 100,000 bpd, the sources said on condition of anonymity. The pact allows the UAE to produce 2.590 million bpd.The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, are seeking to cut production by 7.7 million bpd between August and December.  The UAE will compensate for the August rise by reducing its oil supply and exports in coming months, the sources said.OPEC+ countries that breach their targets are under