Khaled Al Falih talks to the press on the sidelines of the 176th meeting of OPEC on Monday in Vienna, Austria. Agence France-Presse
Opec said on Tuesday that world demand for its oil would be higher than expected this year as supply growth from rivals including US shale producers slows, pointing to a tighter market if the exporter group refrains from raising output. But the Organization of the Petroleum Exporting Countries,
Opec and its allies agreed on Thursday to keep current production cuts until further review in December, with the Kingdom of Saudi Arabia pledging to further strengthen its voluntary production adjustment to 9.890 million bpd in October.
The United Arab Emirates Energy Minister Suhail Mohamed Al Mazrouei congratulated the new Saudi Arabian Rnergy Minister, Prince Abdulaziz Bin Salman, in a tweet.
Opec agreed on Thursday to cut oil output by an extra 1.5 million barrels per day (bpd) in the second quarter of 2020 to support prices that have been hit by the coronavirus outbreak, but made its action conditional on Russia and others joining in.
Emirates SkyCargo has announced that it is stepping up its readiness to handle the logistical complexities of distributing a potential COVID-19 vaccine globally by creating the world’s first dedicated airside cargo hub for the vaccine in Dubai.
World shares slipped to a two-week low and oil steadied after another heavy fall on Thursday, as the global surge in COVID-19 cases and fractious US stimulus talks kept financial markets cautious.
Chairman of the Abu Dhabi Department of Energy Awaidha Murshed Al Marar has said that the department is implementing the directives and visions of the UAE’s leadership to enhance the stature of Abu Dhabi
Mariam Bint Mohammed Saeed Hareb Al Mheiri, UAE Minister of State for Food Security, and Brazil’s Minister of Agriculture, Livestock and Supply, Tereza Cristina, kicked off the third day of the Brazil-Arab Countries Economic Forum.