Oil prices rose 3.17 per cent last week as OPEC said...
U.S. crude oil futures ended lower last Friday, June 11, snapping a three-day winning streak, as disappointing U.S. retail sales out shadowed...
UAE oil output is 2.6mbpd: Energy Minister
The United Arab Emirates current oil production is 2.6 million barrels per day, according to Energy Minister Mohammed bin Dhaen Al Hamili.
In a statement...
Morgan Stanley Warns That Rising Rig Count Could Undo Oil Prices...
In an industry where anything could happen, surprises—often unwelcomed—are hard to come by. Oil is exactly such an industry at the moment. No one...
Oil Prices Push up after OPEC’s Production Cut
The price of Brent crude, the international benchmark for oil prices, jumped above $52 a barrel on Thursday after the Organization of the Petroleum...
Oil dropped sharply from near $120 a barrel
Oil dropped sharply from two and half year highs, near $120 a barrel on Thursday, following Saudi Arabia's assurance it could fill any Libyan...
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...
Moderate increase in price of crude
A faster than expected second quarter growth in the U.S. economy and Germany’s agreement on Euro nations bailout helped crude rebound a bit from...
Oil futures rose by 1.6 percent, topping $106
Crude oil prices rose to two and half year highs on Monday on heightened worries about supply disruption due to deepening civil unrest in...
OPEC’s crude oil production cut is still a hint
Oil prices surged last Friday on world markets, following a report in the Wall Street Journal quoting UAE's minister of energy as saying the...
Lack of solid market drivers dims crude oil price forecasts
This year oil prices will eventually struggle on weaker market fundamentals. The average Brent prices are expected to hold at around $107 per barrel...
GCC’s fuel subsidy reforms offer only modest fiscal space
While fuel subsidy reforms in members of the Gulf Cooperation Council (GCC) will help address pressure from low oil prices on public finances, these...
The Energy Information Administration expects oil price to average $93 a...
The Energy Information Administration in the US said on Tuesday, world oil consumption rose 2.2 million barrels per day in 2010 to 86.6 million,...
Dana Gas moves ahead with plans for 1,000 sq km offshore...
Equipment and materials ordered, contracts to be awarded
Dana Gas, the Middle East's first and largest regional private-sector natural gas company, is moving ahead with...
Oil prices to surpass $150 by 2020
Bernstein Research reported on Tuesday that oil prices are expected to increase from 2015 onwards, topping $150 a barrel in 2019 and 2020. According...
Oil price extends losses
Oil price extended losses on Tuesday, as the dollar benefited from ongoing worries about European sovereign-debt issues and concerns about U.S. growth and oil...
Libya’s crude oil production falls amid civil unrest
Libya's crude oil production has fallen below one million barrels a day amid widespread protests at terminals, the country's state oil company said.
In a...
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...