Citing World Bank figures on a huge GDP fall 2017-20, Gholam-Hossein Shafei has said the government needs to revise policies to stimulate competition and encourage investment.
22 hours 45 min ago
As The New Round of Sanctions On Iran Draw Near
Emirates Announces Decision To Increase Oil Production
Suhail Al Mazroui, Emirate’s Minister of energy announced his country’s decision to increase its oil production by the end of this year and producing over 3.5 million barrels a day.
He explained on his Twitter page that the decision to increase production was made to meet the demands of the international market.
Emirates’ decision to increase its oil output comes at the time when the United States has announced its decision to bring Iran’s oil export down to zero with the new round of sanctions. The new sanctions will go into effect on November 4th, and the United States has warned oil importing countries about the consequences of buying oil from Iran.
The Islamic Republic has criticized some of the OPEC countries for supporting Washington’s policies against the regime.
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