cars
Oil prices are ‘nowhere near’ peak yet, says UAE energy minister
Published
2 years agoon
By
Sudhashree![](https://headline.ae/wp-content/uploads/oil-3.jpg)
Oil prices are “nowhere near” their peak as an impending rise in Chinese demand threatens to strain a global market already pinched by tight supplies, UAE Energy Minister Suhail Al Mazrouei said on Wednesday.
The comments serve as an acknowledgment that last week’s decision by the Opec+ coalition to bolster output will give consumers little respite from the soaring cost of energy this summer, said Bloomberg in a report.Efforts by Opec+ oil producers to boost output are “not encouraging”, the UAE minister told an energy conference in Jordan, noting the group was currently 2.6 million barrels per day short of its target.“The risk is when China is back,” Al Mazrouei said in an apparent reference to Chinese demand. Prospects for demand growth in China, which is relaxing lockdowns, have been buoying crude prices recently.
Al Mazrouei warned that without more investment across the globe, Opec+ can’t guarantee sufficient oil supplies as demand fully recovers from the coronavirus pandemic.
Prices can reach “unseen” levels if Russian oil and gas is completely taken off the market, he said.
Opec+ is currently 2.6 million barrels per day short of its target.
You may like
Announcements
Gaming meets speed: Ferrari launches first-ever esports arena in Abu Dhabi
Published
1 week agoon
September 1, 2024By
SudhashreeFerrari World Yas Island, Abu Dhabi’s acclaimed Ferrari-themed park, has once again redefined entertainment by launching the world’s first Ferrari-themed Esports Arena. This state-of-the-art venue is set to become the go-to destination for racing enthusiasts, Formula 1 aficionados, and thrill-seekers alike.
The newly unveiled Ferrari World Esports Arena features an impressive lineup of 20 Gran Turismo simulators, thoughtfully designed to cater to a broad audience. Fourteen simulators are dedicated to adult racers, while six are specifically designed for younger guests, creating a family-friendly atmosphere that welcomes visitors of all ages.
The arena also includes three specialised F1 simulators, offering participants the exhilarating experience of sitting in the driver’s seat of a Ferrari race car and racing on legendary F1 Grand Prix circuits, including the Yas Marina Circuit. Open daily from 10am to 6pm, the Ferrari World Esports Arena offers access to the Gran Turismo simulators as part of the theme park ticket until the end of the year. The exclusive F1 simulators are available for an additional fee, starting from Dh60 per race.
Announcements
UAE fuel prices announced for September 2024
Published
1 week agoon
August 31, 2024By
SudhashreeThe UAE fuel price committee on Saturday announced petrol and diesel prices for the month of September 2024.
Super 98 petrol will cost Dh2.90 a litre, compared to Dh3.05 a litre in August, while Special 95 will cost Dh2.78 a litre, compared to Dh2.93 a litre the previous month. E-Plus category petrol will be available for Dh2.71 a litre, compared to Dh2.86 a litre in August, while diesel will now cost Dh2.78 a litre, compared to Dh2.95 a litre the previous month.
UAE Fuel Price Committee announces prices for September#WamNewshttps://t.co/Jwis5fd2Ah pic.twitter.com/qOspYYVge4
— WAM English (@WAMNEWS_ENG) August 31, 2024
he UAE has been revising retail petrol prices on the last day of the month ever since the government deregulated oil prices in August 2015 to bring them at par with the global rates.
The approved fuel prices by the Ministry of Energy, according to the average global price of oil, whether up or down, after adding the operating costs of distribution companies.
Announcements
Dubai Metro extends timings ahead of record-breaking passenger surge
Published
2 weeks agoon
August 24, 2024By
SudhashreeThe operating hours of the Dubai Metro have been extended over the weekend, the Roads and Transport Authority (RTA) said on Thursday.
#DubaiMetro at your service for extended hours!#RTA is extending the Dubai Metro operating hours between Centrepoint and GGICO stations, from 5:00 AM until 2:00 AM (next day) between August 22 and 24, and from 8:00 AM until 2:00 AM (next day) on Sunday, August 25.… pic.twitter.com/Xlve4jXjFJ
— RTA (@rta_dubai) August 23, 2024
he authority said that the operating hours will be from 5am to 2am until Saturday, August 24 and from 8am to 2am on Sunday, August 25. Dubai International (DXB), the world’s busiest international airport, on Wednesday said it will handle 3.43 million guests over the next 13 days, as residents return from their summer holidays. Dubai Airports said that it will manage more than half a million guests between August 31 and September 1. September 1 is set to be the busiest day with DXB accommodating 291,000 guests.
According to reports, DXB welcomed a record-breaking 44.9 million guests in the first half of 2024, marking an eight per cent year-on-year increase. In January 2024 alone, DXB handled close to 8 million passengers. The numbers show an 8.4 per cent increase which marks the busiest quarter in history.