GulfBase Live Support
01/03/2018 05:46 AST
Saxo Bank expects oil prices to remain in the range of $55-70 per barrel, which will not be supportive for regional economies.
“A weaker dollar driven by increased concerns about the US economic outlook is not a strong enough foundation from where a price recovery can be established. On that basis we expect the market to remain rangebound for the time being,” Ole Hansen, head of commodity strategy.
The outlook for global supply and demand shows a trend towards rising non-Opec supply and continued steady demand. Such rising of non-Opec supply carries risk and potentially challenges unity among the Opec+ group, which could also impact future oil prices, Hansen said.
Brent crude traded 0.15 per cent lower at $66.53 per barrel, while WTI was 0.16 per cent lower at $62.91 per barrel on Wednesday.
Gulf News
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
STC | 83.41 | 257,644 |
DARALARKAN | 13.47 | 74,648,349 |
(In US Dollar) | Change | Change(%) | |
---|---|---|---|
Brent | 68.12 | -2.02 | -2.88 |
WTI | 63.51 | 0.5 | 0.79 |
OPEC Basket | 64.98 | -1.5 | -2.26 |
05/04/2018
Opec crude production dropped to the lowest in a year amid the woes in Venezuela’s oil industry. Output from the 14 members of Organisation of Petroleum Exporting Countries fell by 170,000 barrels to
Gulf News
03/04/2018
Oil’s rally above $65 a barrel is being propelled by a sign that American explorers have curtailed drilling activity as well as ongoing speculation that the US could reimpose sanctions on Opec produc
Gulf News
29/03/2018
The Organization of the Petroleum Exporting Countries (Opec) is seeking “very long-term” cooperation with other crude exporters, the secretary general of the oil exporting group said on Wednesday.
The Gulf Today
28/03/2018
Saudi Arabia and Russia are working on a long-term oil pact that could extend controls over world crude supplies by major exporters for up to 20 years, the Kingdom’s crown prince has said.
Arab News
27/03/2018
International oil prices are likely to tick up into the “high-sixties” further into 2018, according to Dr Mohammed bin Hamad al Rumhy, (pictured) Minister of Oil and Gas. Speaking at the opening of t
Oman Daily Observer