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.
-
Economy2 months agoExclusive: Inside Oman’s Evolving MSME Finance Ecosystem – An Interview with Hussain Al Lawati, CEO, Development Bank
-
Banking & Finance1 month agoSohar International Contributes OMR100,000 to Support Those Affected by Al Masarrat Weather Conditions
-
OER Magazines1 month agoOER, March 26
-
OER Magazines1 week agoDossier Oman: Banking, Finance & Insurance Special Edition
-
Economy2 months agoIbri Industrial City Localises Two Projects Worth RO2M in 2025
-
News1 month agoReal Estate Price Index in Oman Grows By 13.9%
-
Economy2 weeks agoOPINION: War, Climate, and the Costs We Choose Not to See
-
News2 months agoVIDEO: Al Khamayil Oman Scales Up Production with New Rusail Facility

You must be logged in to post a comment Login