United Arab Emirates exceeded OPEC target cuts in February: energy minister

FAN Editor 6 years ago
FILE PHOTO: The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen outside their headquarters in Vienna
FILE PHOTO: The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen outside their headquarters in Vienna, Austria December 7, 2018. REUTERS/Leonhard Foeger/File Photo

March 12, 2019

HOUSTON (Reuters) – The United Arab Emirates in February exceeded its OPEC target for oil production cuts, achieving 119 percent of its goal, the country’s energy minister said on Tuesday at an energy conference.

Energy Minister Suhail al-Mazrouei said he met with financial executive attending the CERAWeek energy conference to discuss the challenges for financing oil and gas production. OPEC and its allies have instituted production cuts in an effort to shrink global oil stocks and prop up crude prices.

(Reporting by Florence Tan; Editing by David Gregorio)

Free America Network Articles

Leave a Reply

Next Post

Global debt is up 50% over the past decade, but S&P still says next crisis won't be as bad

Tue Mar 12 , 2019
Global debt has jumped since the financial crisis, though one ratings agency thinks that it poses significantly less danger than the last time around. Corporate, government and household indebtedness rose to $178 trillion as of June 2018, a 50 percent increase from a decade ago, according to figures S&P Global […]

You May Like