The International Energy Agency is monitoring developments in global oil markets, and notes that markets are now adequately supplied, and that global spare production capacity remains at comfortable levels.

OPEC is due to meet in June, where the Iran question will no doubt be raised. But oil and gas leaders are taking a cautious approach, with Kuwait's oil minister Khaled Al Fadhel noting that a decision would be taken only after a review of oil prices.

the risk of oil prices heading well above $70/b to the oil market and the global economy, while also saying that if prices were too low it would hit investment in the industry and key oil producing countries.

China is resolutely opposed to the United States enforcing unilateral sanctions or “long armed jurisdiction”, Geng Shuang, a ministry spokesman, told a daily news briefing.

Oil futures settled at fresh six-month highs Monday as the market looked at an increasingly tight global supply picture in light of the White House decision. ICE June Brent settled up $2.07/b at $74.04/b, and NYMEX May WTI settled $1.70/b higher at $65.70/b. Monday marked the highest front-month settle for both contracts since late October, just before the US sanctions snapped back.

The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, forecast in its MENA Annual Energy Investment Outlook 2019 that current and planned energy investments in the region add up to $1trn for the next five years.

Green hydrogen can in principle be shipped around the world to places that are less well endowed with cheap renewable energy sources.

"Cooperation will continue between Russia and Saudi Arabia," Ibrahim al-Muhanna said at the International Oil Summit in Paris, stressing that "it is the core of OPEC+ cooperation."

Boosting heavy crude output is a major part of the country's 2040 oil production strategy. Kuwait plans to increase overall oil production capacity to 4.75mbpd by 2040, up from its current capacity of 3.15mbpd.

BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.

To further explore opportunities for bilateral energy expansion, Turkish Energy and Natural Resources Minister Fatih Dönmez and German Federal Minister for Economic Affairs and Energy Peter Altmaier met in Ankara for the second Turkish-German Energy Forum in October last year to sign a letter of intent to enhance the Turkish-German energy partnership.

Alparslan Bayraktar, deputy minister of energy and natural resources, stated that there is great potential for the natural gas market between Turkey and the U.S., in an address at the 37th Annual Conference on Turkey-U.S. Relations organized by the Turkey-U.S. Business Council (TAİK) and the American Turkish Council (ATC) in the U.S. capital Washington, D.C.

The International Monetary Fund (IMF), has forecast the UAE’s nominal Gross Domestic Product (GDP) to grow 4.7 percent to AED1.673 trillion in 2019, compared to AED1.589 trillion a year ago.

The investment incentives provided by Dubai government and the business opportunities up for grabs on the horizon were the crux of a meeting officials of the Dubai Land Department, DLD, had with a Russian delegation who participated in the recently concluded Annual Investment Meeting 2019.

Abu Dhabi's Gross Domestic Product, GDP, at current prices, increased by 14.4%, from AED 813.6 billion in 2017 to AED 931.0 billion in 2018, according to Statistics Centre