The photo has been used for illustrative purposes.
The price of E-Plus 91 rose by 0.4 per cent for May to Dhs2.11 per litre, up from Dhs2.10 in April. Diesel prices dropped by 2.2 per cent for May or five fils to Dhs2.17 per litre, down from Dhs2.22 in April.
The global oil demand remains resilient and points at signs for optimism but we still need to focus on costs, said Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi National Oil Company
Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don’t want to get stuck owning crude with nowhere to store it.
Al Dhafra Petroleum, a joint venture between the Abu Dhabi National Oil Company (Adnoc), the Korea National Oil Company (KNOC) and GS Energy, and one of Adnoc’s youngest operating companies, announced that it has begun producing crude oil
China’s new bank loans fell more than expected in April while money supply growth slowed to a 21-month low, as the central bank gradually scales back pandemic-driven stimulus to reduce debt and financial risks in hot areas of the economy. The world’s second-largest
Toyota Motor Corp forecast its profit would bounce back to pre-pandemic levels this year, as the world’s biggest automaker exuded confidence it can tackle a global chip shortage that has stung its rivals. Japan’s top automaker, which has been stockpiling the
The Danish Government has confirmed its official participation in Expo 2020 Dubai, partnering the Danish Business Council at the six-month global gathering. Reem Bint Ibrahim Al Hashemy, Minister of State for International Cooperation, and Director General
Oil prices rose on Wednesday after a drop in US crude inventories reinforced Opec’s robust demand outlook, while the market awaited fresh updates on the Colonial Pipeline outage. US West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.44%, to $65.57