Oil & Gas
UAE to Continue Oil Output Adjustments Until Market Rebalances
The United Arab Emirates will continue to adjust its oil production until the market rebalances, the OPEC member’s energy minister said.
“We will continue to deliver on the OPEC & non-OPEC commitment for voluntary production adjustments, until the global market is re-balanced,” Suhail Al Mazrouei said on Twitter.
“U.A.E. compliance for the month of February 2019 will meet, if not exceed, its obligations,” he said. “This will help to bring balance and stability to the global oil market.”
Investors last week pushed bullish wagers on West Texas Intermediate crude prices to their highest in a month and cut short-selling bets to the lowest since October, apparently convinced that dwindling global supplies will be more than enough to withstand a weaker economy. Futures in New York ended the week up by a mere 0.5 percent.
-
Dossier1 month agoDossier, 2026
-
OER Magazines1 month agoOER, February 26
-
Banking & Finance1 month agoSohar International and Sohar Islamic Supports Over 100 Families in Al Wusta Governorate Through Its ‘Sohar Al Attaa’ Initiative
-
Banking & Finance1 month agoNational Finance Unveils Exclusive Ramadan Offers on Auto Financing
-
Economy1 month agoAnalysis: Oman-India CEPA Opens Path to Deeper Trade Investment and Growth
-
Economy1 month agoMiddle East Tensions Heighten Risks to Strait of Hormuz, Raising Uncertainty for Global Oil Markets
-
Economy1 month agoANALYSIS: Oil Near Seven-Month Highs Amid US, Iran Tensions
-
Economy1 month agoNew Regulations Issued for Buy Now, Pay Later Services in Oman

You must be logged in to post a comment Login