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 …

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 …

Bloomberg Repsol SA will reduce its dividend next year after outlining plans to wind down the search for oil and expand its renewable capacity fivefold during the next decade. The Spanish company, which was the first oil major to set a net-zero emissions target a year ago, will put its projects into “harvest mode” as it refocuses on higher-value oil …