Company strengthening regional presence and service offering
business1 day ago
The United Arab Emirates will implement an additional voluntary cut of 163 thousand barrels per day starting January 1, 2024 until the end of March 2024, in coordination with some OPEC+ participating countries.
Therefore, the United Arab Emirates’ production will be 2,912 thousand barrels per day until the end of March 2024. Afterwards, in order to support market stability, these additional cut volumes will be returned gradually subject to market conditions.
This is in addition to the voluntary cut of 144 thousand barrels per day previously announced by the United Arab Emirates in April 2023, which extends until the end of December 2024.
This additional voluntary cut comes to reinforce the precautionary efforts made by OPEC Plus countries with the aim of supporting the stability and balance of oil markets.
ALSO READ:
Company strengthening regional presence and service offering
business1 day ago
Sinochem may keep three refineries in China's Shandong province
business1 day ago
Memorandum of understanding aims to enhance cooperation in the construction sector
business2 days ago
Serenia Living’s architecture and interiors have been led by Palma’s expert team
business2 days ago
Company’s backward integration model reaps dividends
business2 days ago
Participating companies announce several cooperation achievements
business2 days ago
Das was one of the most trusted bureaucrats in Prime Minister Narendra Modi's administration
business2 days ago
Indian market regulator sends out advisory cautioning against such actions
business2 days ago