Bloomberg Oil fell from its strongest close in nine months, hampered by weaker risk sentiment in global markets. Crude futures were down 1.9% in New York, with the dollar trading higher and European stock markets declining. It follows a rally last week after Opec and its allies agreed to add 500,000 barrels a day of output from January to a …
Read More »
Bloomberg Iraq will remain committed to Opec’s decisions on oil output as it nudges crude exports higher in December. The country will export 2.8 million barrels a day this month, Oil Minister Ihsan Abdul Jabbar said Sunday, up from 2.7 million in November. It will start shipping a new medium grade of its flagship Basrah crude in January and try …
Read More »Abu Dhabi / WAM Menilbekov Madiyar, Ambassador of Kazakhstan to the UAE, highlighted the strong bilateral ties between the UAE and his country, noting that the UAE is Kazakhstan’s leading strategic, trade and economic partner in the Arab region, most notably in the petrochemical, energy, transport, logistical services, agriculture and space sectors. In an interview with Emirates News Agency on …
Read More »
Bloomberg Oil rose for a fifth straight week with support from an Opec+ deal and hopes for another round of US stimulus. Futures in New York and London closed at fresh nine-month highs, with signs that momentum is building towards a fiscal stimulus plan that could provide an immediate demand boost, before a vaccine is widely available. Prices had already …
Read More »GENEVA / WAM The UN refugee Agency has commended the UAE for supporting humanitarian efforts to airlift emergency aid and supplies to Ethiopian refugees in Sudan. Spokesperson of the United Nations High Commissioner for Refugees (UNHCR) Babar Baloch, told a news briefing in Geneva that a plane carrying 32 tons of UNHCR emergency aid from global stockpile in Dubai landed …
Read More »
Bloomberg Opec ministers started hashing out the size of the cartel’s oil-production cuts for next year, as the group’s president called for caution in a fragile market. The coalition that pumps half the world’s crude is debating whether to maintain supply at current levels or increase it as planned in January. Some members are concerned that global markets remain too …
Read More »TOKYO / WAM Japan imported from the United Arab Emirates 21.850 million barrels of crude oil in October 2020, data released by the Agency of Energy and Natural Resource in Tokyo showed. This accounts for 31.2 percent of Japan’s total crude imports, the agency that belong to the Ministry of Economy, Trade and Industry, said. Saudi Arabia provided 29.761 mmb, …
Read More »
Bloomberg Iraq hasn’t asked for an exemption from Opec+ limits on the country’s oil output for fear that an increase in production might cause crude prices to fall, Oil Minister Ihsan Abdul Jabbar said, according to state-run newspaper Al-Sabah. The results of the Opec+ coalition’s output-cuts deal have been positive and stabilising for the oil market, given the impact the …
Read More »ABU DHABI / WAM A 5.0 magnitude earthquake on Richter scale was recorded in south Iran at a depth of 10 km at 8:24 UAE local time, according to the NCM National Seismic Network. The National Center of Meteorology National Seismic Network affirmed that no tremors were felt in the UAE after an earthquake shook Iran on Sunday morning and …
Read More »
Bloomberg Oil rose for a fourth straight week, buoyed by optimism over Covid-19 vaccine progress ahead of an Opec+ ministerial gathering next week. Futures in New York advanced 8% this week, despite edging lower. The shape of the oil futures curve firmed over recent sessions with some nearer-dated futures contracts rising above later-dated ones. It’s a sign of how the …
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.