OPEC, Russia and other oil producing nations agreed to cut output by a record amount to support oil prices.

The United Arab Emirates is committed to reducing oil production from its current level of 4.1 million barrels per day (MBOPD), UAE Minister of Energy and Industry Suhail bin Mohammed Al Mazrouei said in a tweet on Sunday.



"In line with the OPEC+ agreement, the UAE is committed to reducing production from its current production level of 4.1 mbopd," Al Mazrouei tweeted.

As a reliable supplier, and in line with the OPEC+ agreement, the UAE is committed to reducing production from its current production level of 4.1 mbopd. - ???? ???????? (@HESuhail) April 12, 2020



OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10 per cent of global supply, to support oil prices amid the coronavirus pandemic.