Global progress on energy efficiency may slow further this year as a result of the economic impacts of the COVID-19 crisis, according to the International Energy Agency (IEA)

All GCC equity markets ended the month positively as oil prices jumped by 27% for the month after pharmaceutical firms Pfizer, Moderna and AstraZeneca announced the eminent release and availability of COVID-19 vaccine, according to Kuwait Financial Centre Markaz’s market review report

Tense negotiations and rumours of a rift between Saudi Arabia and the UAE ended with a compromise deal for OPEC+ on 3 December 2020

The projection of a cumulative loss of US$340bn over the next eight years comes as peak oil demand will arrive earlier and at a lower level than expected, meaning E&P investments will be reduced 

Petroleum Development Oman (PDO) has announced a partnership with integrated oilfield services provider Gulf Energy SAOC (GES) for the creation of 600 job opportunities for Omanis in its product line services in both Oman and abroad