OPEC and Allies Have Cleared Oil Surplus
OPEC and allied oil producers including Russia concluded that the crude market re-balanced in April, when their output cuts achieved a key goal of...
Is a Second OPEC Cut on The Cards?
OPEC's coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above...
Oil posted its biggest weekly loss
Oil fell US$2 a barrel on Friday, May 07, and posted its biggest weekly loss in almost a year and a half following the...
UAE Committed to OPEC+ Agreement
The UAE on Thursday affirmed its commitment to the OPEC+ agreement.
''The UAE remains committed to the OPEC+ agreement and its existing monthly production adjustment...
Oil prices expected to move lower
Last week, crude oil for October delivery ended on a positive note as WTI advanced for the fourth week running. The contract expires on...
Crude Oil, Gold and Silver rise on weak Dollar
Crude oil prices climbed Wednesday as US inventories dropped unexpectedly last week. The Energy Information Administration reported on Wednesday, US Crude inventories fell 4.4M...
Oil demand growth expected to remain subdued in 2016
Having peaked, at a five-year high of 1.6m barrels per day (mb/d) in 2015, global oil demand growth is forecast to ease back considerably...
Russia becomes world’s biggest oil producer
For decades the world's major oil producers have tried to control prices by cutting or raising supplies, which relied on all of them sticking to agreed quotas.
But unity...
Signals about global recovery faltering raise concerns about oil demand
In the oil market, analysts agree that any signals about global recovery faltering will raise concerns about future oil demand.
Oil prices slid from highs...
Oil Price above $87 and expected to go higher in the...
Oil prices rose more than 2 percent on Monday to their highest since October 2008, after data showed U.S. payrolls surged in March, the...
Crude price recovery remains long term perspective; Oil production expected to...
The idea that oil prices will bottom out, and a period of retrenchment will begin, isn’t entirely new. Investments in exploration and production are...
Sheikh Mohammed announces new oil discovery in Dubai
H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of UAE and Ruler of Dubai today announced the new oil discovery in...
Growing M&A interest in MENA Oil and Gas industry
Deloitte whitepaper tackles issues facing potential investors in MENA Oil & Gas industry
Global Oil and Gas transactions have suffered a modest decline in both...
Improved economic outlook triggers higher oil prices
Ahead of reports forecast indicating an improving U.S. economy outlook, oil trades near the highest close in four months. Futures went through a slight change...
Oil Industry Faces Huge Worker Shortage
The rig count has rebounded from the lows seen in late May, a small indication that oil companies in the U.S. could begin drilling...
Untapped UAE oil fields hold over 500 mln barrels
UAE signed a memorandum of understanding giving South Korean firms rights to develop oil fields in Abu Dhabi
The three oil fields in the United...
Oil falls on output and demand concerns
Oil futures declined nearly 3% Friday, as the dollar strengthened. The dollar traded higher compared to major rivals by the end of the last...