UAE

OPEC+ countries approve new production baselines

The ministers of OPEC+ countries agreed to extend the agreement until the end of 2022 with the main parameter of the deal - the production baseline - changing for some countries at a meeting on Sunday, a source participating in the talks …

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UAE denies reports on reaching tradeoff in OPEC+ deal

The OPEC+ countries have not yet agreed with the UAE on the parameters and conditions for a deal to soften oil production restrictions, and consultations are still underway, the UAE Ministry of Energy said. "We note recent media …

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UAE opens its embassy in Israel

The United Arab Emirates (UAE) opened its embassy in Israel on Wednesday in the presence of Israeli President Isaac Herzog. UAE ambassador to Israel Mohamed al-Khaja and the Israeli president cut the opening tape during the embassy …

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OPEC crisis and future of Saudi-UAE alliance

The coronavirus pandemic hit the global oil industry hard. As countries imposed severe restrictions on domestic and international travel and transportation, the global oil demand drastically declined and oil prices collapsed, …

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Blast rocks Dubai port causing large fire

An explosion inside a container on a ship docked at Dubai's Jebel Ali port late Wednesday caused a large fire and was felt across the city, authorities said. There were no reported deaths or injuries and the fire is under control, …

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OPEC+ ministers reschedule talks due to lack of consensus

The meeting of the OPEC+ ministerial monitoring committee and the OPEC+ ministerial meeting will be held on Friday, July 2, the OPEC Secretariat said in a statement. As sources told TASS earlier, the ministers failed to reach an agreement on …

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Israeli foreign minister to make first visit to UAE

Israel’s new foreign minister Yair Lapid will head to the United Arab Emirates next week for the first known visit by a top Israeli diplomat to the Gulf Arab country, the ministry said Monday. Lapid’s trip comes after …

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