Bloomberg Global oil demand will rebound next year as the world emerges from the coronavirus pandemic, but recovering to pre-crisis levels may take a couple of years, the International Energy Agency (IEA) said. Fuel use around the world will remain 2.5% lower next year than in 2019, largely because of the “the dire situation of the aviation sector,” the Paris-based …

Abu Dhabi / WAM The UAE condemned Iranian-backed Houthi terrorist militia’s attempts to target civilian areas in Khamis Mushait, Saudi Arabia with explosive-laden drones intercepted by Coalition forces. In a statement, the Ministry of Foreign Affairs and International Cooperation, the UAE reiterated its full solidarity with Saudi Arabia against any threats to its security and stability, affirming support for all …

DAMMAM / WAM The Arab Petroleum Investments Corporation (Apicorp), a multilateral development financial institution, estimates that planned and committed investments in the Mena region will exceed $792 billion over the next five years (2020–2024). According to Apicorp’s Mena Energy Investment Outlook 2020-2024, the amount marks a $173mn decline from the $965bn in last year’s five-year outlook. The overall decline in …