Analysis: Amid a trend of de-escalation, Turkey and the UAE are repairing broken ties. But while economic relations are driving the rapprochement, political differences remain.
A new era in Turkey-UAE ties vestnikkavkaza.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vestnikkavkaza.net Daily Mail and Mail on Sunday newspapers.
Jan. 4 OPEC+ meeting: Will they or won’t they up production in February?
Cornelia Meyer
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Most people in the oil industry will want to forget 2020. The coronavirus pandemic and lockdowns brought the global economy to a standstill. In April, the US benchmark West Texas Intermediate (WTI) briefly turned negative.
While demand has recovered somewhat, the International Energy Agency estimated it was 8.8 million barrels per day (bpd) below 2019 levels in 2020. This year we are still poised for a decline of 3.1 million bpd below 2019 levels.
The year was hard for international oil companies Exxon was delisted from the Dow Jones at the end of August while shale producers saw several bankruptcies of which Chesapeake might have been the highest profile. It was hard for national oil companies (NOCs), too. They were not immune from slashing capital expenditure, which is unheard of for NOCs in the GCC.
OPEC+ Jan Meeting: To Raise Production Or Not To Raise? That s The Question albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.