• 1 day The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 4 hours European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 3 days Demonising fossil fuels has caused major grid problem in Australia
  • 7 days "And this is perhaps the most dangerous kind of government there can be."
  • 2 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 4 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 329 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 6 days ESG Topic - "German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing" - ZeroHedge Bloomberg and others

President Of OPEC Heavyweight UAE Dies

The President of the United Arab Emirates (UAE), Sheikh Khalifa bin Zayed Al Nahyan, died on Friday, the state news agency of OPEC's third-largest producer reported.

Sheikh Khalifa bin Zayed Al Nahyan suffered a stroke back in 2014, and since then, he has rarely participated in the day-to-day affairs of the UAE.

His half-brother, the Crown Prince of Abu Dhabi, Mohammed bin Zayed Al Nahyan, known as MBZ, has been the de facto ruler of the UAE for several years now. The crown prince is expected to succeed his half-brother as ruler of Abu Dhabi.

The UAE will observe a forty-day national mourning with the flag flown at half-mast starting today, the Ministry of Presidential Affairs said, adding that work will be suspended at all ministries, departments, and federal, local and private entities for three days.

Under the constitution of the UAE, vice-president and Prime Minister Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai, would act as president until the federal council of the rulers of the seven emirates meets within 30 days to elect a new president.

The UAE is a major oil producer, OPEC's third-biggest, and is one of the most influential members of the cartel and the wider OPEC+ alliance with some ten non-OPEC producers led by Russia.

In April, the UAE pumped 3.015 million barrels per day (bpd) of crude oil, up by 36,000 bpd from March, according to secondary sources in OPEC's latest Monthly Oil Market Report (MOMR) published on Thursday. That's the third-highest output from OPEC behind Saudi Arabia and Iraq.

The UAE is also an influential voice in oil markets, as participants pay attention to what the country's Energy Minister, Suhail al-Mazrouei, says at public events.

Most recently, al-Mazrouei said this week that the extreme volatility in the oil market these days is the result of some buyers boycotting certain crudes and is not connected with OPEC+, and is outside the alliance's control.

By Tsvetana Paraskova for Oilprice.com

More Top Reads from Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News