UAE reduces fuel prices for the month of December
Fuel prices for December 2023 have decreased by 7-8 fils per litre for petrol and 23 fils per litre for diesel comparing to the November 2023, according to the UAE Fuel Price Follow-up Committee.
The price of Super 98 dropped from Dhs3.03 to Dhs2.96 per litre for December, and so did the price of Special 95, which dropped from Dhs2.92 to Dhs2.85 per litre for December.
The price of E-Plus 91 dropped from Dhs2.85 to Dhs2.77 per litre for December, while the price of diesel dropped from Dhs3.42 to 3.19 per litre for December 2023.
The Opec+ alliance of oil producers will consider additional production cuts for next year to support crude prices in virtual meetings on Thursday, three delegates told reporters.
A preliminary agreement has been reached for an additional cut of more than 1 million barrels per day (bpd), two Opec+ source said.
Saudi Arabia, Russia and other members of Opec+ pump more than 40% of the world's oil supply, some 43 million bpd.
With Saudi Arabia's voluntary output cut of 1 million barrels per day (bpd) and a Russian export cut of 300,000 bpd both set to expire at the end of this year, the focus is on plans for 2024.
