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Buoyant oil prices bode well for balanced 2019 budget
(Oman Daily Observer - 30/09/2018)

Resurgent Omani crude prices could potentially contribute to a balanced budget in 2019 and beyond with reduced scope for new government debt, according to a market expert. Hettish Karmani, Head of Research at U-Capital, a leading Muscat-based independent

Crude Surges as Supply Concerns Push Prices to 4 Year Highs
(Action Forex - 29/09/2018)

Oil prices surged on Friday as supply concerns took crude to four year highs. The news that China is cutting back on Iranian oil purchases triggered a rally where Brent and WTI had a 1.40 percent one-day gain. Brent is on track to a 5.34 percent gain

Global Oil Demand in Question as OPEC Output Falters and US Shale Booms
(DailyFX - 29/09/2018)

The outlook for global growth has been called into question in recent months as emerging markets bow under external pressures and developed economies engage in trade wars. On top of its already-enacted $250 billion tab, the US is weighing a further $267

Oil above $80 lifts stocks despite trade worries
(The Gulf Today - 26/09/2018)

European shares rose and Wall Street was set for a stronger open on Tuesday, as oil above $80 a barrel lifted energy shares, despite worries around the latest US-China tariff round and central bank rate hikes.<br/><br/> Following falls across Asian share

Bullish forecast for oil as Brent touches $80 per barrel
(Gulf News - 25/09/2018)

Oil prices, already at four-year highs, are expected to jump further due to supply concerns following US sanctions on Iran, according to analysts. Brent, the global benchmark rose by more than 2 per cent on Monday at more than $80 (Dh293.84) per barrel,

Oil prices likely to top $100 in 2019
(The Gulf Today - 25/09/2018)

Commodity traders Trafigura and Mercuria said on Monday that Brent could rise to $90 per barrel by Christmas and pass $100 in early 2019. Oil prices jumped more than 2 per cent to a four-year high on Monday after Saudi Arabia and Russia ruled out any

Oil jumps as market tightens, more gains seen
(Arab News - 24/09/2018)

Oil prices rose 2 percent on Monday as US sanctions restricted Iranian crude exports, tightening global supply, with some traders forecasting a spike in crude to as much as $100 per barrel.<br/><br/> Brent crude hit its highest since May at $80.47 per

Opec projects $11trn of investments in oil industry
(The Peninsula - 24/09/2018)

Global oil industry is required to invest an estimated $11 trillion over the period to 2040. The upstream investments alone need almost $8.3 trillion during 2018-2040. In the Middle East, petrochemical sector investment is expected to be in the range of

Saudi Arabia seeks stable, not soaring, oil prices
(Arab News - 23/09/2018)

Oil prices rose this week on continuing market tightness. With the price rise, some Saudi-bashing has begun. Bloomberg reported that increasing prices were due to Saudi Arabia’s comfort with Brent crude above $80 per barrel. Such “analysis” is

Opec and allies struggle to pump more oil
(Times of Oman - 23/09/2018)

Opec and its allies reduced oil output in August as a drop in Iranian supply due to US sanctions derailed their attempts to raise production to agreed levels, delegates said on Saturday as the energy producers prepared to hold talks in Algiers.<br/><br/>

Oman crude oil averages $72.64/b in August
(Oman Daily Observer - 18/09/2018)

The average price for Oman Crude Oil Future Contracts at the Dubai Mercantile Exchange (DME) witnessed a price drop by 0.7 per cent in August, compared with corresponding figures for July, according the monthly report of the Ministry of Oil and Gas

Upside risk for Brent to rise above $85 due to Iran sanctions
(Gulf News - 17/09/2018)

Brent, the international benchmark for crude oil, could to rise above $85 (Dh312) per barrel in the coming months due to a combination of US sanctions on Iran and a potential Opec supply crunch, analysts say.<br/><br/> West Texas Intermediate (WTI), the

Qatar begins regular LNG shipments to Bangladesh
(The Peninsula - 11/09/2018)

Qatar has begun regular shipments of liquefied natural gas (LNG) to Bangladesh. An LNG cargo loaded over the weekend from Qatar’s RasGas production facility and will be the first of about three 140,000 cubic-metre cargoes to arrive each month at

Saudi Arabia raises Oct crude prices to Europe, cuts Asia
(Arab News - 06/09/2018)

Saudi Aramco has raised the European price for its Arab Light crude grade for October, the state oil producer said on Wednesday, as Russian Urals prices rally and European refiners seek to replace Iranian oil supplies ahead of the November US sanctions

Brent nears $80 as Gulf of Mexico rigs evacuated
(Gulf News - 05/09/2018)

Brent crude prices jumped to near $80 per barrel on Tuesday after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane. US light crude rose $1.31 a barrel from Friday’s close to a peak of $71.11 (Dh261), its highest since

PDO seeks nod to boost crude output to 680,000 bpd
(Oman Daily Observer - 05/09/2018)

Petroleum Development Oman (PDO) says it plans to ramp up crude production in the coming years to 680,000 barrels per day (bpd), up from the current level of just over 600,000 bpd. The company’s Managing Director, Raoul Restucci (pictured), said the new

Oil to remain in $70 – 80/b range this year: Rumhy
(Oman Daily Observer - 04/09/2018)

Dr Mohammed bin Hamad al Rumhy, Minister of Oil & Gas, has said he is optimistic that international oil prices will remain within the $70-$80 per barrel range over the rest of the year, notwithstanding concerns stemming from geo-political tensions,

Saudi oil revenues set to hit $161bn: report
(Trade Arabia - 03/09/2018)

Saudi Arabia's oil revenue is expected to reach SR605 billion ($161.36 billion) against budgeted SR492 billion this year as the kingdom witnesses a continuous improvement in the economy, an Al-Rajhi Capital research report said. <br/><br/> With budgeted

OPEC August oil output tops 2018 high: Poll
(Saudi Gazette - 02/09/2018)

OPEC oil output has risen this month to a 2018 high as Libyan production recovered and Iraq's southern exports hit a record, a Reuters survey found, although a cut in Iranian shipments due to US sanctions limited the increase.<br/><br/> The 15-member

Heavy oil key to Oman’s long-term output: MOG
(Oman Daily Observer - 02/09/2018)

With Oman setting much store by its heavy oil reserves to sustain crude production over the long term, this week’s World Heavy Oil Congress & Exhibition promises to provide strong new impetus to ongoing efforts by various stakeholders to harness this

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