Now playing Next World UAE Energy Minister Suhail Al Mazroui: "We will not rely on oil" Faced with the challenge of a declining oil market The United Arab Emirates, a major crude producer in the Gulf is striving to diversify its economy 09/12/2015
Now playing Next Economy Brent crude oil dips below $40 a barrel for first time since 2009 US crude fell below $37 (34 euros) a barrel on Tuesday, and Brent below $40 (36.7 euros) for the first time since early 2009. Oil prices then 08/12/2015
Now playing Next Business Series OPEC: After the latest acrimonious meeting, where now for oil prices? On Business Middle East this week we analyse the repercussions of the latest OPEC meeting decision. According to analysts it’s clear from the meeting 08/12/2015
Now playing Next Economy Saudi-led OPEC policy 'targets shale oil producers' OPEC’s failure to agree new limits on oil production regardless of demand and tumbling prices is seen by some as a deliberate move to send rival 07/12/2015
Now playing Next Economy Oil output to stay high as OPEC fails to agree ceiling OPEC countries are to carry on producing current high levels of oil for the time being. This comes despite complaints that the huge global surplus is 04/12/2015
Now playing Next Economy Energy markets fall as reports say OPEC to maintain output policy Energy markets fell following unconfirmed reports that OPEC has kept its policy of pumping near-record volumes of oil. Anonymous sources quoted by 04/12/2015
Now playing Next Economy Saudi Arabia unfazed as OPEC set to keep oil output high OPEC members have been meeting in Vienna with the oil producers’ organisation widely expected to do nothing to tackle one of the worst crude gluts in 04/12/2015
Now playing Next Economy Saudi Arabia hints it may back oil output cut - if others do too Are there more signs of a chink in the Saudi armour over oil production? OPEC’s effective leader has been softening its stance against cutting 03/12/2015
Now playing Next Economy OPEC 'set to keep pumping oil' despite global glut OPEC is determined to keep pumping oil despite the financial consequences on the policy’s main architect Saudi Arabia, according to Reuters. The news 25/11/2015
Now playing Next Economy IEA says oil glut could worsen through 2016 The International Energy Agency has estimated that slowing demand growth – as well as resilient non-OPEC supply – could worsen the oil surplus well 13/11/2015
Now playing Next Business Series No hurry to hike: pessimism from BoE on rates and OPEC on oil The Bank of England met on what was dubbed “Super Thursday” on hopes that Bank Governor Mark Carney would have something positive to say on interest 10/11/2015
Now playing Next Economy Oil producers meet amid little hope of agreement The price of oil fell again ahead of a meeting on Wednesday of OPEC and non-OPEC producers in Vienna. Reuters reports that of eight non-member 21/10/2015
Now playing Next Economy Global oil oversupply to persist in 2016, says IEA The global oversupply of oil will persist through next year, according to the International Energy Agency, as growth in demand slows and 13/10/2015
Now playing Next Economy Russia 'ready to meet' other oil producers over market trouble The price of oil rose on Monday after Russia – one of the world’s top three producers – said it was ready to meet others to discuss the market. Brent 05/10/2015
Now playing Next Economy OPEC predicts higher demand for its crude oil OPEC has predicted a higher demand for its crude oil next year, cutting its forecast of supplies from non-member countries. It is sticking to its 14/09/2015
Now playing Next Business Series Global markets hit turbulence amid mounting fears of China slowdown In this edition of Business Middle East, we analyse the turbulence engulfing global markets. Signs of an economic slowdown in China are stacking up 25/08/2015
Now playing Next Business Series Draghi says volatility is here to stay Daleen Hassan – euronews: Welcome to business Middle East. In this episode we look at the impact of the European Central Bank’s recent meeting, and 09/06/2015
Now playing Next Business Series Crude crunch: OPEC expected to resist pressure to increase output All eyes are on Vienna for this week’s OPEC meeting amid a rift between members of the cartel and other major oil producing countries. The issue is 02/06/2015
Now playing Next Business Series The recovery of oil prices The significant rise in oil prices at the start of May meant they reached their highest levels so far in 2015. To what extent are they recovering? 12/05/2015
Now playing Next Business Series Industry relief over oil prices - but can it last? February saw the first monthly increase in oil prices after seven months of steep declines. Is the oil industry out of the woods, or is there more trouble ahead? 10/03/2015