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OPEC

OPEC+ meets to review compliance with oil cuts

"The meeting will be mostly a focus on conformity and compensation," said an OPEC source, rather than any major tweaks to the OPEC+ supply cut deal.

Published 19 Aug, 2020 04:03pm

Business & Finance

Iran says OPEC has raised and stabilised crude oil price

In 2018, US President Donald Trump pulled the United States out of Iran's 2015 nuclear deal with six powers and reimposed sanctions that have sharply cut Iran's oil exports.

Published 17 Aug, 2020 06:14pm

Markets

Saudi Arabia, Iraq stress full commitment to OPEC+ deal

The two ministers discussed the latest developments in oil markets, continued recovery in global demand and progress made towards implementing the OPEC+ agreement.

Published 07 Aug, 2020 10:20am

Markets

Egyptian shares fall while Saudi index holds steady

Egyptian index drops to six-week low
Dubai's Emaar Properties snaps four sessions of losses

Published 16 Jul, 2020 06:50pm

Markets

OPEC fears second virus wave to prolong oil inventory overhang

OPEC, Russia and their allies, a group known as OPEC+, said they would ease record oil curbs from Aug. 1 citing a gradual recovery in demand as global lockdowns loosen up.
The group expects oil demand to climb by 7 million barrels per day (bpd) in 2021 after falling 9 million bpd this year.

Published 16 Jul, 2020 05:08pm

Markets

Oil prices ease after OPEC+ agrees to ease output curbs

OPEC+ to ease output cuts to 7.7 mln bpd from Aug.
Economic recovery puts demand above supply –analyst.

Published 16 Jul, 2020 04:54pm

Markets

OPEC+ eases record oil cuts as economy recovers from pandemic

Producers set to ease cuts to 8.54 mln bpd from Aug.
New cuts to include compensations by Iraq and others.
Second virus wave could deepen demand hit.
Oil trades above $40/bbl, US output slowly recovering.

Published 15 Jul, 2020 09:03pm

Markets

OPEC chief sees oil market moving closer to balance before key meeting

OPEC+ panel meets Wednesday to review supply cut.
Producers not expected to extend supply cuts at same level.
Saudi oil exports in Aug to stay at July level.

Published 13 Jul, 2020 08:42pm

Markets

Saudi oil exports in Aug to stay at July level –sources

Saudi Arabia often burns more oil - estimated at about 550,000 barrels per day (bpd) - during the hot summer months for power generation.
This summer the demand for oil burning is set to rise more than last year due to COVID-19 movement restrictions which have forced millions of people to stay home.

Published 13 Jul, 2020 06:26pm

Markets

Oil steady as coronavirus fears offset gasoline recovery signs

Mixed evidence on gasoline demand revival.
Concerns over record surge in US COVID-19 cases.
OPEC+ monitoring panel meets next week.

Published 09 Jul, 2020 05:27pm

Markets

Angola agrees to comply fully with oil cuts after OPEC pressure

The Organization of the Petroleum Exporting Countries and allies led by Russia, a group known as OPEC+.
The record cuts are now due to run to the end of July, before tapering to 7.7 million bpd until December.

Published 07 Jul, 2020 05:27pm

Markets

Angola resists OPEC pressure to comply fully with oil cuts

Saudi Arabia has been pressing laggards such as Iraq, Kazakhstan, Nigeria and Angola to improve compliance with the cuts and compensate.
It trimmed production to 1.24 million bpd in June, based on a Reuters survey, 60,000 bpd above its target.

Published 02 Jul, 2020 04:43pm

Markets

OPEC has cut oil output by 1.25 mbpd in June, says Petro-Logistics

OPEC and its allies, a group known as OPEC+, agreed to cut supply by a record 9.7 million bpd from May 1 to offset an oil price and demand slump triggered by the coronavirus crisis.
Excluding Iran, Libya and Venezuela, which are not part of the curtailment agreemen.

Published 29 Jun, 2020 07:45pm

Business & Finance

Oil prices stable ahead of OPEC+ meeting

US West Texas Intermediate (WTI) crude futures dropped 14 cents to $37.82 a barrel.

Published 18 Jun, 2020 06:17pm

Markets

OPEC throttles output in May

In the latest monthly report by the Organization of Petroleum Exporting Countries, data showed that the cartel's 13 member states throttled output by 6.2 million barrels per day (bpd) last month.

Published 17 Jun, 2020 08:01pm

Markets

Iraq is fully committed to the OPEC+ cut deal

OPEC, Russia and other producers agreed on Saturday to extend record output cuts of 9.7 million barrels per day into July.
Abdul Jabbar said his country is fully committed to cut its production in June and July in compliance with the OPEC+ deal.

Published 09 Jun, 2020 02:40am

Markets

Oil falls 3% despite OPEC+ cuts as Gulf ends voluntary curbs

OPEC+ cuts extended to end-July.
Saudi Arabia, UAE and Kuwait to halt additional cuts.
China's May crude imports hit record 11.3 mln bpd.
OPEC+ cuts for May and June.

Published 09 Jun, 2020 01:45am

Markets

OPEC, allies agree to extend deep output cuts through July

Oil prices have plummeted as a result of falling demand as countries around the world impose strict lockdowns to stop the spread of the new coronavirus.

Updated 07 Jun, 2020 12:59pm

Markets

OPEC, Russia extend record oil cuts to end of July

Iraq, Nigeria agree to deeper production cuts.
Oil prices have doubled since diving below $20 in April.
Saudi, Russia keen to avoid new US shale oil spike.

Published 07 Jun, 2020 12:52am

Business & Finance

Oil tops $40 on OPEC cuts and demand recovery

Suggesting a supply glut is easing, the American Petroleum Institute on Tuesday said that U.S. crude inventories fell by 483,000 barrels.
Both benchmarks have surged in recent weeks, with Brent more than doubling after hitting a 21-year low below $

Published 03 Jun, 2020 03:16pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 17	278.30
USD PKR Interbank Buying / May 17	278.10
USD to Japanese Yen / May 17	155.67
USD to Swiss Franc / May 17	0.91
Pound Sterling to USD / May 17	1.27
Euro to USD / May 17	1.09

Stock	Volume
S&P 500 / May 17	5303.27
India Sensex / May 17	73917.03
Tokyo Nikkei / May 17	38787.38
Nasdaq / May 17	16685.97
Hang Seng / May 17	19535.61
FTSE 100 / May 17	8420.26
Dow Jones / May 17	40003.59
Germany DAX 30 / May 17	18704.42

Item	Value
Crude Oil USD/Barrel / May 17	79.59
Karachi Cotton PKR/37.32 KG / May 17	19935
Gold 10 Grams PKR / May 17	210562
Gold Spot USD/Ounce / May 17	2386.18
Cotton US¢/pound / May 17	76.29
Petrol/Litre / May 18	273.10

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 18 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 18 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 18 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 18 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 18 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 18 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 18 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 18 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 18 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 18 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 18 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 18 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 18 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 18 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 18 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 18 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 18 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 18 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 18 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 18 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 18 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 18 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 18 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 18 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 18 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 18 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 18 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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