Oil rallies ahead of OPEC meeting

ronniechua iStock

UAE Energy Minister Suhail Al Mazrouei is expected to play a key role at the summit.

The oil group OPEC is hosting a hotly-anticipated video meeting.

 Oil prices jumped 5% overnight as traders expect Saudi Arabia, the UAE and Russia to extend oil production cuts.

The coronavirus pandemic has battered demand for crude as countries remained under lockdown. 

Air transportation was grounded as people were urged to work from home to limit the spread of the coronavirus outbreak.

More from Business

Coming Up on Dubai Eye

  • The Business Breakfast

    6:00am - 10:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.

  • Starting up with Virtuzone

    10:00am - 11:00am

    Starting Up is back, with a fresh new edition in a brand-new timeslot every Tuesday from 10am-11am.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Is There Sufficient House Supply In UAE

    Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?

  • Noon's First Female Delivery Driver

    Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!