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Crude Oil

Crude oil demand: jittery road to recovery

Covid-19 has had an unprecedented impact on global economy; oil market fundamentals have been shaken to the core in...

Published 17 Jul, 2020 08:26am

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

Oil prices ease after OPEC, allies agree to taper oil supply curbs

Brent crude fell 27 cents, or 0.6%, to $43.52 a barrel by 0439 GMT, and U.S. West Texas Intermediate (WTI) crude dropped 32 cents, or 0.8%, to $40.88 a barrel.

Published 16 Jul, 2020 10:28am

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

Oil climbs on US stock draw but gains capped as OPEC+ set to ease cuts

US crude inventories fall 7.5 mln bbls last week-EIA.
OPEC+ set to ease record oil cuts from August.
Moderna Phase 1 results show coronavirus vaccine safe.

Published 15 Jul, 2020 09:02pm

Markets

Oil steady after Saudi minister signals OPEC+ may reduce cuts

Brent hovers above $43/bbl, WTI holds above $40/bbl.
OPEC+ set to ease record oil cuts from Aug.
US crude inventories fall by 8.3 mln bbls last week-API.

Published 15 Jul, 2020 08:31pm

Business & Finance

Indonesia produces maiden batch of biodiesel made of 100pc palm

This trial shows that our refinery and catalysts are ready. Next, we have to think how to make the economic side work too.
The world's largest palm oil producer - the bio portion of biodiesel is made with fatty acid methyl esters (FAME) from palm oil.

Published 15 Jul, 2020 06:00pm

Markets

Oil climbs after sharp drop in U.S. crude stocks; OPEC committee meeting in focus

Brent crude futures were up 19 cents, or 0.4%, at $43.09 a barrel as of 0343 GMT, and U.S. West Texas Intermediate (WTI) crude futures rose 17 cents, or 0.4%, to $40.46 a barrel.

Published 15 Jul, 2020 10:26am

Markets

Oil dips on demand fears as OPEC+ considers output increase

OPEC+ panel expected to endorse easing of supply cuts.
Production cuts to taper off from August under supply pact.
Demand recovery threatened by surging coronavirus cases.

Published 14 Jul, 2020 06:42pm

Business & Finance

Hydrocarbon reserves discovered in Kohat

The well has tested 3,240 barrels per day of condensate, 16.12 MMscf per day of gas, and 48 barrels per day of water.

Updated 17 Jul, 2020 03:57pm

Markets

Oil prices drop on demand recovery fears, OPEC+ easing expectations

U.S. West Texas Intermediate (WTI) crude futures slid 96 cents, or 2.39%, to $39.14 a barrel by 0443 GMT, while Brent crude futures fell 88 cents, or 2.06% to $41.84.

Published 14 Jul, 2020 11:21am

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 dips on surge in COVID-19 infections

OPEC JMMC meets this week to decide on supply cuts.
WHO reports record daily rise in new COVID-19 cases.
Libya re-imposes force majeure on oil exports.

Published 13 Jul, 2020 06:08pm

Business & Finance

Oil slips as traders eye supply cut easing at OPEC meeting

Brent crude fell 27 cents to $42.97 a barrel by 0114 GMT while U.S. West Texas Intermediate crude was at $40.27 a barrel, down 28 cents.

Published 13 Jul, 2020 10:08am

Markets

Ukraine sunoil exports rise 10pc to 5.7mn tonne so far 2019/20

Ukraine exported 588,200 tonnes of the commodity in June, the consultancy said in a report.
APK-Inform has forecast Ukraine will produce 6.7 million tonnes of sunoil in the 2019/20 season and may increase output to nearly 6.9 million tonnes in 2020/21 .

Published 11 Jul, 2020 08:47pm

Markets

Russian rouble pares losses, firming on oil price recovery

Brent crude oil, a global benchmark for Russia's main export, was up 1.1% at $42.82 a barrel.
It's all about COVID-19 - both fears and hopes," said BCS Global Markets, noting that Brent was susceptible to the mix of positive and negative headlines.

Published 10 Jul, 2020 08:54pm

Markets

Libya lifts exports force majeure but says output recovery to be slow

The increase in production will take a long time due to the significant damage to reservoirs and infrastructure caused by the illegal blockade imposed on January 17.
Our infrastructure has suffered lasting damage, and our focus now must be on maintenance and securing a budget for the work to be done,

Published 10 Jul, 2020 06:02pm

Markets

Oil falls on resurgence of virus cases, oversupply

Brent, US oil heading for weekly declines.
US COVID-19 cases hit new record.
IEA raises 2020 oil demand forecast.

Published 10 Jul, 2020 05:24pm

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

Oil eases as coronavirus fears offset gasoline recovery signs

U.S. West Texas Intermediate (WTI) crude futures fell 14 cents, or 0.3%, to $40.76 a barrel by 0229 GMT, after rising 0.7% on Wednesday.
Brent crude futures slipped 7 cents, or 0.2%, to $43.22, after gaining 0.5% on Wednesday.

Updated 09 Jul, 2020 11:48am

Markets

Middle East crude benchmarks mixed

SINGAPORE: Middle East crude benchmarks Oman and Dubai were mixed on Wednesday, as traders continued to wait for the...

Published 09 Jul, 2020 02:43am

Markets

Libya lifts Es Sider force majeure, paving way for oil export boost

As part of the continuing review of the force majeure situation, we have recently received a formal security assessment concerning Es Sider Terminal.
The Delta Ocean Suezmax tanker arrived at the port on July 5, according to Refinitiv Eikon data, and was chartered by trader Unipec.

Published 08 Jul, 2020 06:07pm

Markets

Oil stable as rising virus cases, higher US crude stockpiles stall recovery

US crude stockpiles rise - API
US crude output to fall less than expected in 2020 -EIA
ADNOC plans to boost oil exports in August – sources

Published 08 Jul, 2020 05:45pm

Markets

Oil edges lower as U.S. inventory build stokes supply fears

Brent crude futures fell 10 cents, or 0.2%, to $42.98 a barrel by 0417 GMT.
U.S. West Texas Intermediate (WTI) crude futures dropped 12 cents, or 0.3%, to $40.50 a barrel, holding to the narrow range of the past few weeks.

Published 08 Jul, 2020 10:52am

Business & Finance

Libya's NOC says oil blockade to halve oil output in coming years

NOC said in a statement on its website that production would be cut in half by 2022 "in the absence of an immediate restart of oil production.
The bank said it had allocated 1.2 billion dinars to NOC as "an exceptional budget" item, as well as $1.55 billion to cover fuel subsidies and expenses.

Published 07 Jul, 2020 09:54pm

Business & Finance

UAE's ADNOC to boost August oil exports as OPEC+ cuts set to ease

The cuts are due to taper to 7.7 million bpd until December although a final decision has yet to be taken. Key OPEC+ ministers hold talks next week.
ADNOC has notified its customers of its plans to cut crude oil nominations for August by 5% for all grades in line with OPEC+ pact to reduce oil supplies.

Published 07 Jul, 2020 09:29pm

Markets

Oil down as US virus spike stokes demand worries

Rising new virus cases cast doubts on fuel demand recovery
Rise in Saudi OSPs could weigh on refining margins

Published 07 Jul, 2020 07:17pm

Markets

Palm ends lower on weaker crude prices, higher-than-expected output

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange settled down 32 ringgit, or 1.34%, at 2,359 ringgit a tonne.
Lower crude oil makes palm a less attractive option for biodiesel feedstock.

Published 07 Jul, 2020 06:05pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 2	278.40
USD PKR Interbank Buying / May 2	278.20
USD to Japanese Yen / May 2	155.37
USD to Swiss Franc / May 2	0.91
Pound Sterling to USD / May 2	1.25
Euro to USD / May 2	1.07

Stock	Volume
S&P 500 / May 1	5018.39
Nasdaq / May 1	15605.48
Dow Jones / May 1	37903.29
India Sensex / May 2	74720.19
Tokyo Nikkei / May 2	38236.07
Hang Seng / May 2	18192.04
FTSE 100 / May 2	8149.68
Germany DAX 30 / May 2	17906.01

Item	Value
Crude Oil USD/Barrel / May 2	79.53
Karachi Cotton PKR/37.32 KG / May 2	20000
Gold 10 Grams PKR / May 2	206619
Gold Spot USD/Ounce / May 2	2311.74
Cotton US¢/pound / May 2	77.01
Petrol/Litre / May 3	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 3 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 3 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 3 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 3 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 3 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 3 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 3 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 3 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 3 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 3 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 3 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 3 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 3 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 3 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 3 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 3 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 3 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 3 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 3 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 3 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 3 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 3 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 3 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 3 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 3 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 3 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 3 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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