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.
-
Banking & Finance2 weeks agoOman Oil Marketing Company Concludes Its Annual Health, Safety, Environment, and Quality Week, Reaffirming People and Safety as a Top Priority
-
Economy2 months agoMaal Card: What Oman’s New National Payment Card Means for Everyday Users
-
Leaders Speak2 months agoDhofar International Development and Investment Company: Driving Sustainable Growth and Strategic Synergies in Oman’s Investment Landscape
-
Events2 months agoOER Corporate Excellence Awards 2025 Honours Entities and Innovations in Oman
-
News2 months agoSheikh Suhail Bahwan, Chairman of Suhail Bahwan Group, Passes Away
-
News1 month agoOIG Appoints New CEO to Lead Its Next Chapter of Excellence
-
Economy2 months agoOman Unveils Official Omani Rial Symbol in Landmark Move to Boost Global Currency Presence
-
News1 month agoReport: How India & The Middle East Are Exploiting Immense Economic Synergies

You must be logged in to post a comment Login