ABU DHABI / WAM Recent statistics issued by the Organisation of the Petroleum Exporting Countries (Opec), highlighted a decrease in its production by 6.3 percent or some 2 million barrels per day in 2019, compared to 2018. This decrease is in line with the organisation’s recent decisions, in coordination with major independent producers, to maintain the balance in the global …

Bloomberg UK-based energy explorer Premier Oil Plc can move ahead with its plan to extend debt maturities and buy gas fields in the North Sea, a Scottish court ruled. Judge Sarah Wolffe ruled the company can proceed to a creditor vote on a proposed change in terms on $2 billion-worth of debt, heading off a challenge by Premier Oil’s largest …

Bloomberg The most up-to-date measure of the UK economy looks set to improve this week — yet it might not be sufficient to deter the Bank of England (BOE) from cutting interest rates. With policy makers signalling they’re considering a rate cut to preempt possible weakness in the months ahead, and recent data backing their case, IHS Markit’s monthly survey …