LONDON - Deep output cuts by OPEC and other oil producing nations will not prevent a huge build up of crude, the head of the IEA said on Friday, urging the world’s richest economies to discuss broader ways to stabilise oil markets. Fatih Birol, executive director of the International Energy Agency,
business
Three new Covid-19 drive-through test centres to open in Dubai
The Dubai Health Authority (DHA) will soon open three new drive-through centres where residents can get tested for Covid-19 through a 5-minute nasal swab test. The centres are the latest addition to the six existing drive-throughs opened by Al Futtaim Health, which will conduct free screenings for the company’s 20,000
Explainer: Antitrust law won’t get in the way of U.S. acting to raise oil prices
WASHINGTON - It is illegal for oil producers to meet to discuss pushing up oil prices under U.S. antitrust law, but perfectly legal if state regulators or the federal government set lower production levels for them, U.S. antitrust experts said on Friday. That said, the decision by a Texas state official
Indian rice exports suspended on supply chain disruption – industry
MUMBAI/NEW DELHI - Indian rice traders have stopped signing new export contracts amid the nationwide lockdown to curb the spread of coronavirus, as labour shortages and logistics disruptions have hampered the delivery of even existing contracts, industry officials said. The halt in exports from the world’s biggest exporter is allowing rival
Trump will protect U.S. oil but can’t dictate production: Kudlow
WASHINGTON - President Donald Trump will fight international efforts to collude in energy markets that could impact U.S. energy producers, but the administration cannot dictate decisions on oil production to American companies, a White House adviser said on Friday. White House economic adviser Larry Kudlow, speaking in an interview on Bloomberg