The United Arab Emirates (UAE) will continue to deliver on crude oil supply cuts...
FILE PHOTO: UAE's Oil Minister OPEC President Suhail Mohamed Al Mazrouei addresses a news conference after an OPEC meeting in Vienna, Austria, June 22, 2018. REUTERS/Heinz-Peter Bader
CAIRO - The United Arab Emirates will continue to deliver on crude oil supply cuts under a producer agreement until the global market is re-balanced, Minister of Energy and Industry Suhail al-Mazrouei said on Sunday. The Organization of the Petroleum Exporting Countries along with major non-OPEC producers such as Russia have pledged to reduce their oil production to cut into a supply glut.
“We will continue to deliver on the OPEC & Non-OPEC commitment for voluntary production adjustments, until the global market is re-balanced,” al-Mazrouei said on Twitter. He also added in another tweet that UAE compliance to cut oil supply for February “will meet, if not exceed, it’s obligations. This will help to bring balance and stability to the global oil market.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UAE climate minister outlines top threats as Abu Dhabi hosts the Middle East's first Ocean SummitThe UAE is classified as among the countries with the highest vulnerabilities to climate change in the world.
Read more »
Activist Takes Aim at Shale-Company CEO’s PayA shareholder activist will challenge PDC Energy Inc. in an effort to change the way the oil producer pays its executives, part of a broader push by investors to force U.S. energy producers to focus more on profitability than growth.
Read more »
EU to broaden tax haven blacklist, weighs UAE, Bermuda listingEuropean Union states have added 10 jurisdictions to a draft tax haven blacklist...
Read more »
Microsoft to buy energy from 74-megawatt solar power facility in North CarolinaMany of the world's biggest tech companies are turning to renewable sources of energy.
Read more »
Wall Street sinks for third day as healthcare, energy slumpWall Street's main indexes fell for a third session on Wednesday, with the ...
Read more »
Regulators Target Energy-Efficient Home Improvements LoansFederal regulators are preparing to clamp down on a popular loan program used to finance solar panels and other energy-saving home improvements.
Read more »
Trump makes low energy push to halt GOP border revoltAt least for now, Trump is doing little to try and dissuade Republicans who are considering voting to block his national emergency declaration on the southern border
Read more »
Why Bezos and Microsoft are betting on this $10 trillion energy fix for the planetJeff Bezos and others have sunk more than $127 million into General Fusion, a start-up trying to commercialize fusion energy. Microsoft is partnering with the company. The goal: to provide energy to 1 billion people that don't have electricity.
Read more »
Analysis | The Energy 202: Oil giant makes business case for taking climate change seriouslyThe Energy 202: Oil giant makes business case for taking climate change seriously
Read more »