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Opec+ to maintain tapering pace at 400,000 bpdOpec+ has decided to stay the course and maintain the tapering pace at 400,000 barrels per day (bpd), tempering market expectations of incremental supplies over the near term, said British multinational bank Barclays in a new report. More… |
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Oman daily crude oil production hits 718,700 barrelsOman’s daily crude oil production stood at 718,700 barrels during September 2020, a drop by 0.18% compared to the daily production in August 2020, according to the monthly report published by the Ministry of Energy and Minerals. More… |
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UAE to cut oil output by 100,000bpd in JuneThe UAE will voluntarily cut its oil output by 100,000 barrels per day in June in a bid to back Saudi Arabia's efforts to rebalance the world oil market, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry. More… |
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Aramco cuts output by 5.7m bpd after drone attackSaudi Aramco emergency crews contained fires at its plants in Abqaiq and Khurais, as a result of terrorist attacks with projectiles, which resulted in production suspension of 5.7 million barrels of crude oil per day (bpd), the company said on i More… |
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Saudi economy expands at moderate pace in Q1Saudi Arabia’s economy expanded at a moderate pace of 1.7 per cent year-on-year (y-o-y) in the first quarter (Q1) of 2019 as against 3.6 per cent y-o-y in Q4 2018, owing to muted growth in the oil sector amid lower oil production due to ex More… |
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UAE growth to pick up on gains in non-oil sectorDriven by ongoing infrastructure investment in the non-oil economy and increasing output in the oil sector, UAE’s headline growth is set to accelerate from 0.8 per cent in 2017 to around 2.5 per cent in 2018 and 3.3 per cent in 2019, a rep More… |
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UAE growth to pick up on gains in non-oil sectorDriven by ongoing infrastructure investment in the non-oil economy and increasing output in the oil sector, UAE’s headline growth is set to accelerate from 0.8 per cent in 2017 to around 2.5 per cent in 2018 and 3.3 per cent in 2019, a rep More… |
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UAE growth to pick up on gains in non-oil sectorDriven by ongoing infrastructure investment in the non-oil economy and increasing output in the oil sector, UAE’s headline growth is set to accelerate from 0.8 per cent in 2017 to around 2.5 per cent in 2018 and 3.3 per cent in 2019, a rep More… |
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Opec sees record conformity to output cut dealOpec and participating non-Opec producing countries have started 2018 with an outstanding conformity level in their voluntary production adjustments, reaching over 130 per cent, said a report. The conformity level for December 201 More… |
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UAE committed to Opec output deal, says energy ministerThe UAE will remain committed to the global oil output reduction deal to eliminate the remaining glut on the market which amounts to 100 million barrels to reach the average target of the coming five years, said a report citing the minister of e More… |
