2019-11-20 11:35:00
UAE COMMITTED TO OPEC+
WAM - ABU DHABI, 18th November, 2019 -- Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, has re-affirmed the UAE's commitment to voluntary production adjustments under the agreement of the Organisation of Petroleum Exporting Countries and non-OPEC producers in support of the stability of the global oil market.
Al Mazrouei said that the UAE is working with transparency with the secondary sources approved by the Joint Ministerial Monitoring Committee at OPEC, with a regular communication with these sources.
The minister added that according to secondary sources, the UAE's average compliance rate during the last period was in line with the OPEC + agreement.
He stressed the need to continue to adhere to the decision of OPEC and ensure alliance with other producers to support the stability of the oil market on a sustainable basis, re-iterating the UAE's firm commitment in this regard.
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Earlier:
2019, November, 11, 12:45:00
UAE GDP GROWTH 2.5%
Following a challenging period, the economy is recovering. Non-oil growth could exceed 1 percent in 2019 and pick up to around 3 percent next year, the fastest since 2016, on the back of Expo 2020 and fiscal stimulus. Overall GDP growth would register 2.5 percent in 2020.
