The United Arab Emirates is stepping in to fill the gap from a drop in Libyan oil supply by pumping more oil, the country's OPEC governor said on Monday.
Since the start of disruptions in Libya's oil supplies, OPEC members have taken unilateral action to boost production. Saudi Arabia, the world's largest oil exporter, has produced just under 9 million barrels per day (bpd) so far in March.
"As oil exports from Libya were affected, other OPEC members stepped in including Saudi, Kuwait, Angola and the UAE," Ali Obaid al-Yabhouni told a conference in Abu Dhabi. "There is no damage report of infrastructure of Libya's oil production, so once the problems are resolved, (exports) will go back to normal."
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