Dubai oil hub for Middle East and Asia

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Picture: Imran Saddique
Picture: Imran Saddique

Dubai is looking to become the center of the oil trade for the Middle East and Asia Region. According to local media in the UAE “The National”, the Dubai Mercantile Exchange (DME) has increased its trading volume to enter into the giant traders’ bracket. Currently the trading has reached almost 3 million barrels.

Dubai and Oman are two of the oil producers in the Middle East, and collectively both constitute 6% of the total oil production throughout Gulf. According to the press, Thomas Leaver the CEO of DME communicated that he was prepared to wait until they become the dominant oil hub east of the Suez. The CEO is confident that after the first giant oil refiner joins, others will follow the same path as well which will allow the region to grow in terms of oil production.

The CEO said that DME has set up good strategy to move ahead in future aggressively. The possible challenges have been discussed and plans have been set up to tackle them strategically.

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Reading Time: 1 minute

Picture: Imran Saddique

Dubai is looking to become the center of the oil trade for the Middle East and Asia Region. According to local media in the UAE “The National”, the Dubai Mercantile Exchange (DME) has increased its trading volume to enter into the giant traders’ bracket. Currently the trading has reached almost 3 million barrels.

Reading Time: 1 minute

Picture: Imran Saddique
Picture: Imran Saddique

Dubai is looking to become the center of the oil trade for the Middle East and Asia Region. According to local media in the UAE “The National”, the Dubai Mercantile Exchange (DME) has increased its trading volume to enter into the giant traders’ bracket. Currently the trading has reached almost 3 million barrels.

Dubai and Oman are two of the oil producers in the Middle East, and collectively both constitute 6% of the total oil production throughout Gulf. According to the press, Thomas Leaver the CEO of DME communicated that he was prepared to wait until they become the dominant oil hub east of the Suez. The CEO is confident that after the first giant oil refiner joins, others will follow the same path as well which will allow the region to grow in terms of oil production.

The CEO said that DME has set up good strategy to move ahead in future aggressively. The possible challenges have been discussed and plans have been set up to tackle them strategically.

Do you like this post?
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