OPEC cannot protect world oil prices: UAEJanuary 13, 2015 - 12:31 AMT PanARMENIAN.Net - OPEC cannot protect world oil prices which have plunged since June, the United Arab Emirates said on Tuesday, Jan 13, arguing that rising North American shale oil output needed to be curbed, AFP reports. "We cannot continue to be protecting a certain price," UAE Energy Minister Suhail al-Mazrouei said. "We have seen the oversupply, coming primarily from shale oil, and that needed to be corrected," he told participants in the Gulf Intelligence UAE Energy Forum in Abu Dhabi. Oil prices continued their slide towards six-year lows in Asian trade on Tuesday. Brent crude for February delivery fell 75 cents to $46.68 a barrel -- its lowest level since April 2009. On Monday, it plunged more than five percent to end below $50. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia-Qatar ties discussed in Doha The Secretary of Armenia’s Security Council met with the Deputy Secretary General of the National Security Council of Qatar. ARARAT special evening dedicated to Aznavour's 100th Anniv. On May 20 ARARAT legendary Armenian brandy, celebrated the centennial of Maestro Charles Aznavour with a special event. Surveying works underway in Armenia’s Kirants Surveying works are underway in the Armenian village of Kirants in the northern Tavush province. Armenia calls for prohibiting threats of attacks on nuclear facilities Armenia has raised the need for a treaty prohibiting attacks on nuclear facilities devoted to peaceful purposes. |