ADNOC, Aramco’s converging oil capacity boost targets seen leading to market share spat

Saudi Arabia and the UAE are ramping up their crude oil production capacity in a bid to capture more market share, but their ambitious plans are likely to put the two OPEC allies in direct competition in the oil demand-growth economies of Asia. Abu Dhabi National Oil Co., the UAE’s biggest energy producer, on Nov. 28 announced plans to accelerate…