Oil industry needs to invest $10 trillion

February 21, 2018 0

The global oil industry will need to invest over $10 trillion by 2040 to replace declining output capacity and ensure there’s plenty of supply in the upcoming years, OPEC president Suhail Mohamad Al-Mazrouei said Tuesday.

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UAE remains committed to OPEC oil output cut: official

February 20, 2018 0

Suhail Al-Mazrouei, the United Arab Emirates (UAE) Minister of Energy and Industry and current OPEC president, said Saturday his country “will spare no effort to reach the state of market stability aspired by both producers and consumers,” UAE state news agency WAM reported.

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Saudi Arabia to restrain March oil exports

February 15, 2018 0

Saudi Arabia will restrain its oil exports in March despite lower domestic need for crude, as OPEC’s leader is pushing to totally eliminate the global oil glut and overcome worries about a new cycle of oil price weakness.

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