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Oil hits 2016 high
(Arab News - 28/04/2016)

Crude oil prices hit 2016 highs on Tuesday on the back of a rally in the gasoline market and after an industry group reported a surprise draw in US crude stockpiles. Brent and US crude’s West Texas Intermediate (WTI) futures finished regular trading

Oil up 1.1pc, at 2016 highs on weak dollar
(Reuters - 27/04/2016)

Crude oil futures rose half a dollar in early Asian trading on Wednesday and remained near 2016 highs on the back of strong investor sentiment and a weak dollar, although analysts warned this month's bull-run could soon run out of steam. International

Oil hits 2016 high, led by falling output
(Reuters - 27/04/2016)

Oil hit its highest level this year on Wednesday, driven by a falling dollar and evidence of declining US supply, putting the price on course for its strongest monthly performance since last April. Brent crude futures were up $1.03 at $46.77 a barrel by

Oil prices jump 3 percent on weak dollar
(Arab News - 27/04/2016)

Oil markets rose about 3 percent on Tuesday as a tumbling dollar boosted commodities denominated in the greenback after bets the Federal Reserve will hold US interest rates where they are. Crude oil futures also rose on the back of a 3-percent hike in US

Oil prices down 2% in choppy trading
(Arab News - 26/04/2016)

Oil prices fell as much as 2 percent on Monday after an inventory spike at a key storage base for US crude and leading banks in the commodities trade said a two-month long rebound has defied fundamentals. Market intelligence firm Genscape reported that

Limited upside seen in Brent prices
(Gulfnews - 25/04/2016)

Oil prices are likely to witness limited upside even as traders look at the first quarter earnings of energy companies for hints. On Friday, Brent crude ended more than 1 per cent higher at $45.11 (Dh165) per barrel, extending gains for a third

Kuwait crude oil exports to China hit three-month high – Russia-Kuwait
(Arab Times - 24/04/2016)

Kuwait’s crude oil exports to China in March hit a three-month high of 1.72 million tons, equivalent to 409,000 barrels per day (bpd), up 30.6 percent from a year earlier, official data showed. The figure was the highest since December 2015, when

Oil prices gain after US crude stocks rise
(Arab News - 21/04/2016)

Oil prices gained on Wednesday as government data showed US crude stocks rose slightly less than expected last week, while the US dollar advanced against the euro ahead of Thursday's European Central Bank meeting. US crude oil inventories rose slightly

Oil prices rise as Kuwaiti strike continues
(Arab News - 20/04/2016)

Oil prices rose on Tuesday as a strike by oil workers in Kuwait nearly halved crude production from the OPEC member, overshadowing bearish sentiment following Sunday's failure by producers to agree to freeze output levels. Thousands of Kuwaiti oil

WTI & Brent Crude Oil Prices Recovery Underway Ahead of API Data
(Forex Broker - 19/04/2016)

Crude oil prices both WTI and Brent recovered sharply during the past few sessions, and almost closed the gap area. It looks like there is a chance of more gains in crude oil price moving ahead. Crude oil prices gained in Asia Tuesday as investors turned

Oil prices fall as big producers hint at output hike
(Reuters - 19/04/2016)

Crude prices fell early on Thursday as concerns over a global glut took center stage after Russia and Iran said they were ready to raise oil production further, while inventories in the US climbed slightly. The International Energy Agency (IEA) said on

Saudi oil exports fall in February
(The National - 19/04/2016)

Saudi Arabia’s crude oil exports in February fell to 7.553 million barrels per day from 7.835 million bpd in January, official data showed on Monday. The world’s largest oil exporter produced 10.220 million bpd of crude in February compared with 10.230

Oman LNG 2015 revenue at $2.6bn
(Oman Daily Observer - 18/04/2016)

Majority government owned Oman LNG, which operates a three-train natural gas liquefaction plant at Sur, has announced revenues of $2.612 billion for 2015, down from the previous year’s figure of $4.074 billion — a decline attributed primarily to the

Deadlock in Doha over freeze on oil output
(The National - 18/04/2016)

doha // Talks among oil-producing countries on a deal to freeze ouput ended without agreement last night amid growing political tension between Saudi Arabia and Iran. “We need more time to consult among ourselves in Opec and non-Opec producers," said

Saudi Prince says he could add a million barrels immediately
(Gulfnews - 17/04/2016)

Saudi Arabia could raise crude production by more than a million barrels a day immediately, said the kingdom’s Deputy Crown Prince on Saturday, as he reiterated the nation would only agree to freeze production if all major producers including Iran do the

Surging oil output, low prices dare Doha talks
(Saudi Gazette - 17/04/2016)

OPEC isn’t what it used to be. Ahead of a planned meeting of most of the cartel and other major oil producers in Qatar to approve a freeze on oil production, some OPEC members are pumping record levels of crude even as prices wallow at less than half

Al-Naimi: Oil prices are always volatile
(Arab News - 14/04/2016)

Petroleum and Mineral Resources Minister Ali Al-Naimi appeared to rule out cutting Saudi Arabia’s oil production in remarks published Wednesday, days ahead of a producers’ meeting aimed at propping up crude prices. Asked about the Kingdom’s position on

Oman's crude oil production falls in March
(Times of Oman - 13/04/2016)

Oman’s production of crude oil and condensates in March stood at 30.26 million barrels, which indicates a fall of 3.69 per cent compared to the previous month. The average daily crude oil production stood at 976,253 barrels, said a monthly report

Oil prices hit fresh 5-month highs
(Arab News - 13/04/2016)

Global oil prices hit fresh five-month highs on Tuesday, piercing $44 a barrel and extending earlier gains after a report that Saudi Arabia and Russia have agreed to freeze output ahead of a much-anticipated producers meeting on Sunday. Russia’s Interfax

Saudi to supply petroleum products to Egypt
(Trade Arabia - 12/04/2016)

Saudi Arabia is to provide Egypt with 700,000 tonnes of petroleum products a month under a $23 billion deal over five years between Saudi Aramco and the Egyptian General Petroleum Corp, an EGPC official said on Monday. "The Saudi Fund for Development

Oil rises on signs of tightening market
(Reuters - 11/04/2016)

Oil prices rose on Monday, extending sharp rises from the end of last week following a decline in US inventories and drilling, while outages and hopes that exporters could freeze output boosted international prices. Analysts also said that global oil

Oil rises on signs of tightening market
(Trade Arabia - 11/04/2016)

Oil prices rose on Monday, extending sharp rises from the end of last week following a decline in US inventories and drilling, while outages and hopes that exporters could freeze output boosted international prices. Analysts also said that global oil

Brent set to rise as oil glut begins to clear: report
(Trade Arabia - 10/04/2016)

The oil market is now poised to rebalance in the next six quarters and Brent crude price is likely to rally to $47 per barrel by mid-year, according to a new report by Bank of America Merrill Lynch. The report titled ‘Global Energy Weekly: Brent

Oil prices jump 4% after surprise US crude stocks draw
(Arab News - 07/04/2016)

Oil prices surged by 4 percent or more on Wednesday after the US government reported a surprise draw in domestic crude stockpiles last week, versus market expectations for a new record high. The US Energy Information Administration (EIA) said crude

OPEC daily basket price down to US$33.33 a barrel
(The Peninsula - 06/04/2016)

The price of OPEC basket of thirteen crudes stood at $33.33 a barrel on Monday, compared with $34.47 the previous Friday, according to OPEC Secretariat calculations, released today. The new OPEC Reference Basket of Crudes (ORB) is made up of the