The two leaders reviewed various aspects of the longstanding bilateral ties, particularly in the fields of trade and investment
uae3 hours ago
“There is commitment in general to agreed (production) levels but there is a need to enhance it,” Mohammad al-Olaim told KUNA. “
“The Opec decision was taken to be implemented and is not meant for the media,” he said.
Oil fell below $40 a barrel after the Organisation of the Petroleum Exporting Countries agreed a 2.2 million barrel per day (bpd) output reduction on Wednesday to revive prices battered by slumping demand for fuel.
For a sustained price recovery, Opec must enforce strict compliance with its output curbs — historically a tricky task in a falling market.
The group that pumps more than a third of the world’s oil already has reductions of 2 million bpd in place since November. But Opec itself estimates November compliance with those curbs at only around 50 per cent.
Olaim said he expected market conditions to remain difficult for the first half of 2009. “The (market) situation will be difficult to a certain extent especially in the first six month in view of the situation,” KUNA said citing remarks by Olaim.
The two leaders reviewed various aspects of the longstanding bilateral ties, particularly in the fields of trade and investment
uae3 hours ago
President Sheikh Mohamed and Joe Biden emphasised plans to deepen cooperation on space exploration, clean energy and artificial intelligence
uae4 hours ago
As bombs rained down, families loaded cars, vans and trucks with belongings and people, sometimes multiple generations in one vehicle
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The Met Department forecasts generally fair weather, with partly cloudy conditions at times
weather5 hours ago
Studies indicate that approximately 28.2% of schoolgoing children and 34.7% of adolescents in the UAE are classified as overweight or obese
uae7 hours ago
The consistent rise in rentals over the past three years has boosted property owners’ income
realty7 hours ago
The athlete's proactive approach includes a balanced diet and carefully regulating his insulin pump to prevent drops in blood sugar during training
uae7 hours ago
Some say the congestion starts as early as 6.30am and lasts until late morning
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