The Emirates Times

Linkedin Twitter Facebook Tumblr

The Emirates Times

– Make It Happen
Enquire Now
Menu
  • HOME
  • INTERVIEW
  • UAE
  • GULF NEWS
    • Dubai
    • Jordan
    • Bahrain
    • Abu Dhabi
    • Saudi Arabia
    • Oman
  • BUSINESS
  • TECHNOLOGY
  • LIFESTYLE
  • EVENT
  • SUCCESS STORIES
  • METAVERSE

The Emirates Times

– Make It Happen
Menu
  • Home
  • Interview
  • UAE
  • Gulf News
    • BUSINESS
    • Dubai
    • Jordan
    • Saudi Arabia
    • Abu Dhabi
    • Bahrain
    • Oman
  • Technology
  • Lifestyle
    • Biography
    • EVENT
  • Metaverse
Home UAE

UAE’s Assertion: Supplemental Oil Reductions Expected to Stabilize Market Equilibrium

July 8, 2023
in UAE
0 0
0
Market Equilibrium

Market Equilibrium

On Wednesday, United Arab Emirates energy minister Suhail Al Mazrouei told reporters that additional oil output and export cuts made by Saudi Arabia and Russia earlier this week should help balance the oil market. 

OPEC+, a group of the Organization of the Petroleum Exporting Countries and allies, including Russia, which pumps around 40% of the world’s crude, has been cutting oil output since November in the face of sagging prices. 

Russia and Saudi Arabia, the world’s biggest oil exporters, deepened oil supply cuts on Monday to send higher prices. 

But, the move only briefly lifted the market. On Wednesday, benchmark Brent futures traded more than 1% down at $75.30 per barrel, lower than the $80-$100 per barrel that most OPEC nations need to balance their budgets. 

However, Mazrouei told reporters that,(this, the latest addition output cuts) is enough to assess the market and look at the market balance”, adding that the UAE would not be contributing to fresh cuts. 

Next Article

ShareTweetSend
Next Post
education

Trust in the trust leads us to the eternity of unsaid truth.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Latest Posts

accounting service in UAE
business

Accounting Service in UAE: A Strategic Asset for Business Owners

by Editor
July 5, 2025
0

In today’s fast-paced business environment, accounting is no longer just a compliance requirement — it’s a cornerstone of strategic decision-making....

Read more
executive coaching

Why Executive Coaching Is Essential for Modern-day CEOs

July 1, 2025
AMPSZ Consulting

Serial Entrepreneur Samuel Zekri Announces Full Exit from AMPSZ Consulting FZCO in Dubai to Focus on Larger, Consolidated Ventures

June 27, 2025
Dubai crypto exchange

Best Crypto Exchanges in Dubai and the UAE for 2025: A Comprehensive Guide

June 27, 2025
Amaraya

Dubai’s Crown Jewel of Beauty: The Story Behind Victor Keyrouz X Amaraya

June 26, 2025

Follow Us

The Emirates Times

– Make It Happen
The Emirates Times is an English Language Internet media with a significant focus on business, technology, news, entrepreneurship, leadership, innovation, prominent business personalities, and many more, majorly in the GCC region. Further, the company publishes interviews, news, business content, press releases, etc. This platform also publishes about real estate, sports, metaverse, business ideas, and more.
Linkedin Twitter Facebook Tumblr

Important links

  • HOME
  • INTERVIEW
  • UAE
  • GULF NEWS
  • TECHNOLOGY
  • LIFESTYLE
  • METAVERSE

Contact Us

  • sales@theemiratestimes.com
  • +91-70-6556-6556

© 2024 theemiratestimes