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Members of the Organisation of the Petroleum Exporting Countries (OPEC) are seeking a close balance between supply and demand, Khalid al-Falih said.

Saudi Arabia happy with oil market, won't let another glut form

The world's biggest exporter of oil will not sit by and let another supply glut surface.

11 April 2018 2:49 PM IST

Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

Saudi Arabia may cut crude oil prices to Asia in September

The cuts would track a backwardation between prompt and third month Dubai prices that narrowed by 70 cents a barrel in...

2 Aug 2019 12:30 PM IST