The United Arab Emirates currently has the third largest oil reserves in the world, accounting for 12% of ..."> The United Arab Emirates currently has the third largest oil reserves in the world, accounting for 12% of ..."/>
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The energy geography of Iraq and the United Arab Emirates

The United Arab Emirates currently has the third largest oil reserves in the world, accounting for 12% of the world total. In addition to the massive oil reserves the country also enjoys the fourth largest oil reserves. With the small population and the growth of non-oil associated industries the United Arab Emirates is working toward securing a stable future. As far as the oil is concerned the UAE will have to depend even more heavily on Abu Dhabi as Dubai's production continues to decline even with enhanced oil recovery operations in effect. The question of Dubai not respecting the UAE position in OPEC should wane as their output declines, but the question of a successor to the Dubai price marker is still unresolved. The price marker is used throughout Asia, but it is greatly threatened, rumors abound that the Brent marker will take its place in Asia because of inconsistencies with other crudes in the local market. Abu Dhabi will continue its massive growth fueled by oil, but also it will rely increasingly on Natural Gas because it does not fall under OPEC jurisdiction.

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2016-0446
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333 SNY E
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English
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333
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