The United Arab Emirates became the latest party to an OPEC-led effort to stabilize the oil market with pledges of an increase in production on Tuesday. Members of the Organization of Petroleum Exporting Countries and non-member supporters like Russia agreed in June to add more oil to the market in the second half of the year. On Tuesday, the Abu Dhabi National Oil Co. said it could increase production by a few hundred thousand barrels per day, if necessary, to address any shortages. “ADNOC confirmed today that it currently has an oil production capacity of around 3.3 million barrels per day, and remains on track to increase its production capacity to 3.5 million barrels per day by the end of 2018,” the company […]