Skip to main content Skip to footer ![OPEC Fund signs first loan agreement with Montenegro for $52 million to enhance climate initiatives](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/OPEC-Fund-Montenegro.jpg/w=1024,h=683)
The loan is aimed at enhancing fiscal sustainability and facilitating the green transition in the southeastern European nation
![ADNOC Logistics & Services acquires 20 offshore assets in 2024](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/ADNOC-LS-offshore-assets-1.jpg/w=1024,h=682)
The company reported 51 percent revenue growth in integrated logistics for 2024
![Crude oil prices fall 0.6 percent following Fed’s 0.25 basis point rate cut](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Oil-prices-1-1.jpg/w=1024,h=683)
Brent oil futures for February delivery decreased by 0.5 percent to $73.02 per barrel
![DEWA’s Green Hydrogen Project cuts CO2 emissions by over 40 tons in transportation sector](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/DEWA-Green-Hydrogen-Project.jpg/w=1024,h=682)
The station can fuel about 50 fuel-cell electric vehicles in roughly eight minutes each
![Crude oil prices show little movement ahead of Fed meeting](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/06/Oil-prices-10.jpg/w=1024,h=683)
Brent oil futures for February delivery held steady at $73.20 a barrel
![DEWA generates 45.14 TWh of power in nine months in 2024](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/dewa-power.jpg/w=1024,h=683)
This is an increase of 5.49 percent over the same period in the previous year
![OPEC Fund authorizes nearly $1 billion in new development financing](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/OPEC-Fund.jpg/w=1024,h=683)
These initiatives support global nations by improving infrastructure, food security, renewable energy, and economic resilience
![Crude oil prices fall ahead of Fed meeting amid weak Chinese economic data](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/11/Oil-prices.jpg/w=1024,h=683)
Brent Oil Futures decreased by 0.2 percent, settling at $73.81 per barrel
![Arcius Energy: XRG and bp launch new natural gas joint venture](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/xrg-bp-1.jpg/w=1024,h=683)
Announced in February 2024, bp holds 51 percent and XRG, ADNOC's firm, 49 percent
![Crude oil prices dip amid cautious market sentiment and Fed meeting](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/05/Oil-prices-9.jpg/w=1024,h=683)
Brent Oil Futures expiring in February fell 0.3 percent to $74.28 a barrel
![The UAE hikes its climate ambitions in submission to the UN](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/UAE-climate-ambitions.jpg/w=1024,h=683)
In its updated NDC, the country aims to reduce greenhouse gas emissions by 47 percent by 2035 compared to 2019 levels
![How Siemens Energy powers the UAE’s net-zero journey](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/Khalid-Bin-Hadi.jpg/w=1024,h=683)
From partnering with key organizations like ADNOC and DEWA to preparing the Emirati youth
![Oil prices dip amid supply surplus expectations and China’s stimulus efforts](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Oil-prices-1-3.jpg/w=1024,h=683)
Brent oil futures fell by 0.1 percent to $73.34 per barrel
![UAE healthcare sector aims for 20 percent carbon emission reduction by 2030: Report](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/UAE-healthcare-carbon-emissions.jpg/w=1024,h=683)
New study urges healthcare to adopt sustainability to reduce emissions, energy use, and waste
![OPEC cuts oil demand growth forecast for 2024, 2025](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/OPEC-oil-demand-.jpg/w=1024,h=684)
2024 global oil demand to rise by 1.61 million barrels per day, down from 1.82 million barrels per day last month
![Oil prices steady as traders balance China’s stimulus and OPEC’s poor demand forecasts](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Oil-prices-8.jpg/w=1024,h=683)
Brent Oil Futures dipped slightly to $73.50 a barrel
![Oil prices surge modestly amid China’s stimulus optimism and U.S. economic indicators](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Oil-prices-1-7.jpg/w=1024,h=681)
Brent crude futures for February delivery ascended by 0.4 percent to $72.47 a barrel
![Oil prices slip as market reacts to China’s stimulus and Middle East instability](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Oil-prices-7.jpg/w=1024,h=683)
Brent oil futures for February delivery decreased by 0.2 percent, settling at $72.00 per barrel
![Dubai’s green hydrogen production reduces 450 tonnes of CO2 emissions](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/dubai-green-hydrogen-2.jpg/w=1024,h=683)
The project produces about 20 kilogrammes of hydrogen per hour
![Oil prices rise on Middle East uncertainty despite weaker China demand](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/11/Oil-prices-2.jpg/w=1024,h=682)
The number of oil and gas rigs deployed in the U.S. last week hit the highest since mid-September
![Abu Dhabi’s NMDC LTS signs definitive agreement to acquire 70 percent equity stake in Emdad](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/NMDC-Emdad.jpg/w=1024,h=682)
The acquisition, pending regulatory approvals, will allow NMDC to expand into oilfield services
![OPEC+ extends oil output cuts until end of 2026](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/12/OPEC.jpeg/w=1024,h=683)
Despite the group's efforts in limiting supply, Brent crude has mostly stayed in a $70-$80 per barrel range this year
![Oil prices decline as OPEC+ prolongs supply cuts](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/Oil-prices.jpg/w=1024,h=682)
Brent crude futures for February delivery fell by 0.4 percent to $71.80 a barrel
![Oil prices edge up amid U.S. inventory draw, OPEC+ meeting in view](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Oil-prices-9.jpg/w=1024,h=680)
Brent crude futures, set to expire in February, climbed by 0.1 percent to $72.37 a barrel