Agencies Abu Dhabi National Oil Company (Adnoc) said it’s ready to increase oil output in line with guidance set by OPEC and allied producers, echoing comments by Saudi Arabia that it will boost supply to meet demand. The oil giant confirmed on Tuesday that it currently has an oil production capacity of around 3.3 million bpd, and remains on track …

Riyadh / Emirates Business The health of the Saudi Arabian non-oil private sector improved at the fastest pace in 2018 so far during June. An upturn in output and new order growth were the key components behind the latest expansion. Furthermore, many panel respondents noted sharper capacity pressures, which led to the fastest build-up in backlogs of work in 11 …

Bloomberg Saudi Arabia and Russia reaffirmed an agreement between OPEC and its allies, which they say will mean increasing oil production by 1 million barrels a day. Energy ministers Khalid Al-Falih and Alexander Novak spoke on the phone, and reiterated the terms of the agreement reached last month in Vienna, according to statements from the Saudi and Russian energy ministries. …