2018 2017 2016 2015 2014 2013 2012 2011 News Archive
January February March April May June July August September October November December
Opec cuts may go deeper as another member sees output slump
(Gulf News - 30/04/2018)

While plunging output in Venezuela captures the oil world’s attention, problems are quietly festering in another Opec nation. Angola, once Africa’s biggest crude producer, is suffering sharp declines at under-invested offshore fields, with output

Oil rebound to ease GCC fiscal pressure
(The Peninsula - 29/04/2018)

Higher oil prices are expected to result in better current account balances in the GCC over 2018 and 2019. The higher prices are expected to give GCC countries more flexibility in terms of their ongoing fiscal consolidation plans, according to KAMCO

Duqm Refinery eyes global markets for fuel exports
(Oman Daily Observer - 29/04/2018)

Countries in Europe, Far East and even Africa are seen as potential markets for the prodigious quantities of clean petroleum fuels that will be produced once the new Duqm Refinery comes on stream in 2021, according to a top official of the landmark

Oil tops $75 a barrel on supply cuts
(The Gulf Today - 25/04/2018)

Oil rose above $75 a barrel on Tuesday to its highest since November 2014 before paring some gains, supported by Opec-led production cuts, strong demand and the prospect of renewed US sanctions on Iran.<br/><br/> Brent crude, the global benchmark, rose

Oil producers target right level of inventories for market balance
(Gulf News - 24/04/2018)

The UAE Energy Minister Suhail Al Mazroui said on Monday that the global oil market is still being balanced, but Opec is targeting the right level of inventories for market stability.<br/><br/> “The market is still in the process of being balanced, but

Oil output cuts succeeded but future cloudy
(Gulf News - 23/04/2018)

Opec and non-Opec member countries have fulfilled their vision by cutting production to support oil prices, an energy expert from S&P Global Platts said in Abu Dhabi on Sunday. “The oil price today is significantly higher than what it was thought a year

Kuwait reiterates OPEC output cut conformity
(Arab Times - 22/04/2018)

The State of Kuwait has been committed to cutting oil production so as to restore balance at global markets, Kuwaiti Minister of Oil, Electricity and Water Bakheet Al- Rashidi said on Friday.<br/><br/> The minister made the statement to KUNA after he had

Opec, non-Opec panel finds oil glut eliminated
(The Gulf Today - 20/04/2018)

A global oil glut has been virtually eliminated, according to a joint Opec and non-Opec technical panel, two sources familiar with the matter said, thanks in part to an Opec-led supply cut deal in place since January 2017.<br/><br/> The meeting of the

Oil rebounds as Opec signalling deal extension stokes optimism
(Gulf News - 18/04/2018)

Oil rebounded from the biggest loss in more than a week as Opec hinting at extending output cuts fanned optimism and investors anticipated a drop in US stockpiles.<br/><br/> Futures in New York climbed 0.5 per cent after losing 1.7 per cent on Monday.

Bullish forecast for oil prices as Middle East tensions rise
(Gulf News - 16/04/2018)

Oil prices are expected to rise further due to geopolitical tensions in the Middle East and a drawdown in the global oil inventories, analysts said on Sunday.<br/><br/> “Increased geopolitical risk is certainly going to be a bullish factor for crude

Opec sees oil markets tighten further
(The Gulf Today - 13/04/2018)

The global oil stocks surplus is close to evaporating, Opec said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from rivals who have benefited from higher oil prices.<br/><br/> US shale oil

Bahrain’s 80 billion barrel reboot
(Arab News - 12/04/2018)

Bahrain’s discovery of around 80 billion barrels of shale oil in the offshore Khalij Al-Bahrain Basin has the potential to turbocharge the island-nation’s fragile economy despite near-term challenges, according to analysts interviewed by Arab

Saudi Arabia is said to signal ambition for $80 oil price
(Gulf News - 11/04/2018)

Saudi Arabia wants to get oil prices near $80 (Dh294) a barrel to pay for the government’s crowded policy agenda and support the valuation of state energy giant Aramco before an initial public offering.<br/><br/> In conversations with OPEC delegates and

Oil trades near 2-week low
(Gulf News - 10/04/2018)

Oil traded near the lowest in more than two weeks in New York on concerns that the trade conflict between the US and China will undermine economic growth.<br/><br/> Futures in New York traded below $63 a barrel after dropping 4.4 per cent last week.

Crude drops on Trump’s latest China trade threat – Gold swings higher
(Arab Times - 09/04/2018)

Oil prices fell on Friday after US President Donald Trump’s threat of new tariffs on China reignited fears of a trade war between the world’s two biggest economies. Trump said on Thursday he had ordered US trade officials to consider tariffs on an extra

Oil to flow from Oman’s east coast in 2019
(Oman Daily Observer - 08/04/2018)

Singapore-based Rex International Holding Limited, the majority shareholder in Masirah Oil Limited, which owns and operates Block 50 off the Sultanate’s eastern seaboard, says it sees the potential to commence production from a key offshore discovery

Opec output falls to lowest in a year as Venezuela’s woes deepen
(Gulf News - 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 32.04 million barrels a day in March, according to a

Oil extends rally after US rigs decline as Iran risks persist
(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 producer Iran.<br/><br/> Futures added 0.5 per cent in New

  • Portfolio Current Value
  • Today's Gain
  • Overall Gain
  • Overall Gain (%)

  •   ()