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Thursday, July 10, 2025 23:11 GMT

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Top News of UAE

Markets Absorbing OPEC+ Output Hike Without Stocks Rising: Emirati Minister

published:10/07/2025 07:10 GMT

Oil markets are absorbing OPEC+ production increases without building inventories, which means they are thirsty for more oil, United Arab Emirates' Energy Minister Suhail al-Mazrouei said on Wednesday. OPEC+, which pumps about half of the world's oil, has been curtailing production for several years to support the market. But it has reversed course this year to regain market share and as U.S. President Donald Trump demanded the group pump more to help keep gasoline prices lower. OPEC+ began...More


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