It would be premature to decide whether an agreement among Opec and non-Opec oil producers to cut output, reached late last year, needs to be extended beyond six months, the UAE’s Energy Minister said on Wednesday.
Speaking at an oil industry conference, Suhail Al Mazrouei said there needed to be competition in the oil market and trying to fix the market to achieve a certain price would not work, because not everyone in Opec would support that strategy.
Producers intervened to protect the market through their agreement simply because it was already close to reaching a balance, he said.
He also said the UAE has spoken to its customers about oil supply cuts under the global agreement among producers, and was now implementing those cuts.
The impact of the output cuts by Opec and non-Opec producers is expected to be felt by the middle of this year, he added, predicting that growth in demand for oil would continue.
* Reuters
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Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
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Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
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Khalifa Mubarak (24) An accomplished centre-back, the Al Nasr defender’s progress has been hampered in the past by injury. With not many options in central defence, he would bolster what can be a problem area.
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- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
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