Surplus in Inventory Suppresses Oil Prices
Thursday data on US crude inventories was higher than expected. In addition, the dollar gained more pushing oil future further down in electronic trading.
During...
Oil prices fall again on weak data, output doubts
Oil prices fell in early Asia trade Monday, dragged by weak Chinese manufacturing data and dimming prospects of a coordinated production cut by world's...
Oil futures ended above $104 a barrel
Oil futures ended above $104 a barrel Friday and registered a weekly gain of nearly 7% , as investors consider that turmoil in Libya...
Oil prices will remain “low for long, at least 3-5 years”
Fareed Zakaria, host of CNN’s flagship foreign affairs program ‘Fareed Zakaria GPS’ will interview two Indian icons later today, Sunday 21st of February. India’s...
COVID-19 & OPEC – What Is The New Normal?
Refinitiv released a special report.pdf on Covid-19 and the implications on global oil markets. Covid-19 has significantly impacted global economic outlook and oil demand as global...
Global Oil Demand Growth Outlook lowered
The U.S. Energy Information Administration's short-term economic growth assumptions have been lowered substantially this month compared with August's Energy Outlook.
The latest forecast assumes that...
Price of Dubai crude oil for July delivery set in parallel...
The Department of Oil Affairs has announced that official price of Dubai crude oil, which will be delivered next July will be equal to...
What’s behind the drop in oil prices?
The stunning fall in oil prices, from a peak of $115 per barrel in June 2014 to under $35 at the end of February...
OPEC members unable to agree on oil output
Members of OPEC, the Organization of the Petroleum Exporting Countries, today fail to ratify a proposal by four Middle Eastern countries to boost the...
Reduce energy demands drive crude lower
Past weak, crude oil for September delivery had a rough two weeks as it sank to its lowest level in 11 - months, down...
Dubai Mercantile Exchange: Record two billion barrels traded since launch
The Dubai Mercantile Exchange Limited (DME) announced today that cumulative trading of its benchmark DME Oman Crude Oil Futures Contract (DME Oman) has exceeded...
Despite low prices, MENA oil producers to spend heavily on projects
Oil producers across the Middle East and North Africa (MENA) region are continuing to spend heavily on oil, gas and petrochemicals production capacity despite...
Positive US employment data drove oil prices down
On Monday, oil prices edged down in respond to the positive US employment data released last Friday. The firm jobs growth brought concerns that...
Oil price struggles after controversial forecasts
On Tuesday Brent crude dipped below $100 per barrel for the first time in nine months. This caused worries among investors supported by weaker...
S&P Global Survey: Middle East Crude Prices Reflect Collapsing Oil Markets
A survey of different crude market participants conducted yesterday by S&P Global Platts speaks volumes about the plunge in official selling prices (OSP) of...
Oil Market sees Correction
Last week, crude oil for November delivery slumped to a low of $74.95 per barrel and subsequently found a base before heading higher. Tuesday‘s...
EIA expects oil to reach $103 a barrel till year end
The Energy Information Administration of the Department of Energy predicts that the Brent crude oil spot price will reach about $103 per barrel during...
UAE and Saudi Arabia continues to grow despite lower oil prices
UAE new orders grow, and job creation hit three-month high in May’15
Saudi Arabia’s output and new orders expanded, but the growth rate eased
GCC consumers...