Tag: Oil Production
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...
New Oil Discovery Strengthens UAE’s Position as 6th Largest Oil Reserves...
The Supreme Petroleum Council (SPC) announced today the discovery of substantial recoverable unconventional oil resources located onshore, estimated at 22 billion stock tank barrels...
DME Oman Crude Up Over 100% Since Historic Production Cuts
Oman crude oil Benchmark trading on Dubai Mercantile Exchange has doubled in price since the record cuts agreed by the OPEC+ group and other...
OPEC, non-OPEC Reach Oil Cuts Deal Amid COVID-19
An emergency video conference between OPEC and non-OPEC ministerial partners, chaired by Saudi Arabia, ended on Sunday with a continued commitment of the participating...
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...
Economy Diversifies to Boost Growth in 2020
A survey of nearly 440 senior accountancy experts on economic conditions in MESA showed a recovery in confidence in Q4. A revival in growth...
Can Saudi Arabia Still Sway The Oil Market?
Saudi Arabia, the world’s top oil exporter and OPEC's largest producer, has influenced the oil market and oil flows since the middle of the...
The Route for Transformation for the GCC Petrochemical Industry
Industrial consolidation can support value creation and build strategic, operational, and capabilities for the GCC petrochemical players to remain competitive globally.
The Boston Consulting Group...
How Will OPEC Output Cuts Affect the Middle East
OPEC is the organization responsible for regulating at least half of the world's oil output, and as such has become significant in recent years,...
Potential for Stronger Output Suppress Increase in Oil Prices
Oil prices rallied last Friday to register a seventh-straight session gain. New data showed the first decline in the number of active U.S. oil...
Oversupply Push Oil Prices Lower; “V-shaped Rebound” Likely
Oil prices ended higher last Friday, but suffered a weekly loss for the fifth time in a row. This is the longest run of...
Supply Crunch Or Oil Glut: Investment Banks Can’t Agree
In recent years, U.S. shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output...
Potential Shortage of Global Oil Supplies in 3 Years
The recent drop in oil industry investment brought on by weak prices threatens to significantly slow supply growth in the long term, and could...
ADNOC committed to OPEC’s Output Cuts Agreement
The Abu Dhabi National Oil Company (ADNOC), in line with the recently agreed oil production cut resolution adopted by OPEC, is undertaking the necessary...
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...
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 rig count drives crude prices, not Brexit
Oil futures settled with a loss of almost 5% on Friday as the U.K. voted to leave the European Union, raising concerns over the...
Is a “V-Shaped” Oil Prices Recovery on the Horizon?
A "V-shaped" oil prices recovery has been recently hinted by Core Labs, which detailed its outlook for the oil market when it reported its...