Bloomberg Oil suffered its biggest one-day price plunge in the modern era, at one point crashing about 40% to below $11 a barrel as traders contended with an historic glut. Despite Opec+’s unprecedented output deal agreed a week ago, the oil market remains massively oversupplied as the lockdowns to fight the spread of the coronavirus reduce global crude demand by …

ABU DHABI / WAM Advancing the renewables-based energy transformation is an opportunity to meet international climate goals while boosting economic growth, creating millions of jobs and improving human welfare by 2050, stated the first Global Renewables Outlook released by the International Renewable Energy Agency (Irena), on Monday. While a pathway to deeper decarbonisation requires total energy investment up to $130 …

ABU DHABI / WAM The Department of Municipalities and Transport (DMT) announced that the number of building permits issued by its subsidiaries in the first quarter of this year increased by 10 percent compared to the same period last year to reach 2,563 permits for buildings in various vital sectors. According to the report by the Department of Municipalities and …