Oman recommends extending OPEC+ output cuts to end-2020

Oman’s Oil Minister Mohammed Al-Rumhi said his country’s delegation in Vienna this week would recommend an extension of output cuts until the end of 2020. (Reuters)
Updated 04 December 2019

Oman recommends extending OPEC+ output cuts to end-2020

  • ‘Whatever is needed I am sure they (participants at the oil talks) will make the right decision’

DUBAI: Oman’s Oil Minister Mohammed Al-Rumhi said on Wednesday that his country’s delegation at talks with leading oil producers in Vienna this week would recommend an extension of output cuts until the end of 2020.
Asked if deeper cuts would help stabilize the market, Rumhi speaking at in industry event in Dubai said: “Whatever is needed I am sure they (participants at the oil talks) will make the right decision.”
The Organization of the Petroleum Exporting Countries (OPEC)and non-OPEC allies including Russia and Oman, a group known as OPEC+, meet in Vienna on Thursday and Friday.


Egypt’s annual urban consumer price inflation fell to 4.2% in July

Updated 10 August 2020

Egypt’s annual urban consumer price inflation fell to 4.2% in July

  • Month on month inflation has increased in Egypt over the past month

CAIRO: Egypt’s annual urban consumer price inflation fell to 4.2% in July from 5.6% in June, the central statistics agency CAPMAS said on Monday.
Month on month inflation increased to 0.4% in July from 0.1% in June, the agency said.