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Bloomberg Russia plans to support a further gradual increase in Opec+ production at the next meeting in January, because crude prices are within an optimal range. “To restore our output, that we’ve reduced a lot, the price range of $45 to $55 a barrel is the most optimal,” Deputy Prime Minister Alexander Novak told reporters in Moscow. “Otherwise we’ll never …

RIYADH / WAM The Official Spokesman for the Coalition to Restore Legitimacy in Yemen Brigadier General Turki Al-Malki said that the terrorist Houthi militia launched a ballistic missile from Amran governorate on Saturday morning, using civilian objects as a launch site. The missile fell short in Yemeni territory east of Al-Yatmah, Al-Jawf governorate, he added in a statement. “The Houthi …

Bloomberg Britain and the European Union (EU) will enjoy a “special relationship” as a result of the historic trade agreement that was reached, according to UK Cabinet Office Minister Michael Gove. “We can now embark on a new, more hopeful, chapter in our history,” Gove said in an article published in the Times of London newspaper on Saturday. “We can …

DUBAI/ DAKAR / WAM Trade enabler DP World, and the Government of Senegal, have signed agreements for the development of a deepwater port at Ndayane, approximately 50 kilometres (km) from the existing port and near the Blaise Diagne international airport. The new port will further reinforce Dakar’s role as a major logistics hub and gateway to West and North-West Africa. …

NEW YORK / WAM The United Nations General Assembly has adopted by consensus a resolution proclaiming February 4 as “International Day for Human Fraternity.” The initiative was introduced by the United Arab Emirates, Bahrain, Egypt and Saudi Arabia, and as a result the international community will observe International Day for Human Fraternity annually beginning in 2021. Prior to the adoption …

Bloomberg Oil extended this week’s slump on fears that rising virus infections and a faster-spreading strain will inflict a new blow on fuel consumption. Futures are down more than 3% in New York. Many countries have suspended travel with the UK, where a new Covid-19 variant is forcing more than 16 million people to stay at home. A resurgence of …

ABU DHABI / WAM The UAE has welcomed the implementation of the Riyadh Agreement between the legitimate Yemeni government and the Southern Transitional Council. It further welcomed the formation of a government of political competencies in Yemen, and expressed its hope that this will be a step towards a political solution and an accelerated end to the Yemeni crisis. In …

Bloomberg Dubai’s Damac Properties PJSC surged to a two-year high on Sunday after saying its board will consider an acquisition within days. The Dubai-based property developer didn’t provide further information in a regulatory filing, but said its board will meet on December 23. Its shares climbed as much as 14.3%, the most in two months, to their highest levels since …

Bloomberg Oil rose for a seventh straight week as efforts to pass another US virus relief package added to optimism that the vaccine’s rollout will provide a long-awaited boost to demand. Futures rose 1.5% in New York, extending this week’s rally to over 5%. Talks on a relief package have made some headway, with Senate Majority Leader Mitch McConnell saying …

Bloomberg Asian buyers are snapping up oil at higher prices than last month, helping to bolster physical crude markets across the world and underpin a rally in futures. Driven by a slew of purchases from Indian and Chinese refiners, crude values everywhere from Russia to the Middle East and Latin America have surged so far. Spot trading activity has been …