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oil market

Saudi Arabia's Vision 2030
Opinion

Saudi Arabia's Vision 2030

"Visions" are proliferating in the Arab sheikhdoms for quite sometime. The UAE embarked on "Vision 2021", Qatar...
Updated 06 Nov, 2021 04:44am
Oil prices ease off highs
Markets

Oil prices ease off highs

NEW YORK: Oil prices pulled back after touching multi-year highs on Monday, trading mixed as US industrial output ...
Published 19 Oct, 2021 03:52am
Iran's oil exports, on rising trend, drop in May as China buying ebbs
Markets

Iran's oil exports, on rising trend, drop in May as China buying ebbs

  • Tehran's oil exports have risen since late 2020, despite US sanctions toughened under US President Donald Trump. Joe Biden's administration took office in January pledging to rejoin Iran's nuclear deal with world powers, which Trump had quit.
  • "China and Iran are carrying out normal economic and trade cooperation, including energy, within the framework of international law, and the relevant cooperation is reasonable and legitimate," the spokesperson said.
Published 19 May, 2021 05:45pm
Oil prices steady on hopes for economic recovery
Markets

Oil prices steady on hopes for economic recovery

  • Fresh restrictions imposed in Asia to curb pandemic
  • China April crude throughput slows from peak
  • British economy reopens after four-month lockdown
  • Recovery of US pipeline network eases supply concerns.
Published 17 May, 2021 08:50pm
Oil on track for 9-week high on rising demand outlooks
Markets

Oil on track for 9-week high on rising demand outlooks

  • Brent futures rose $1.09, or 1.6%, to $69.64 a barrel.
  • US West Texas Intermediate (WTI) crude rose $1.08, or 1.7%, to $66.36.
  • India's coronavirus death toll crossed 250,000 in the deadliest 24 hours since the pandemic began.
Updated 12 May, 2021 07:32pm
Oil prices rise 2pc on fuel demand optimism
Markets

Oil prices rise 2pc on fuel demand optimism

  • US crude stocks edge up, distillate inventories drop –EIA.
  • Goldman sees surge in oil demand over next six months.
  • OPEC+ sticks to plan to ease oil output cuts from May 1.
  • India's COVID-19 death toll surges past 200,000.
Published 28 Apr, 2021 09:12pm
Saudi Aramco to refinance $10 billion revolving loans
Business & Finance

Saudi Aramco to refinance $10 billion revolving loans

  • Aramco, the world's largest oil company, raised the revolving credit facility in 2015 with a wide group of international and local banks.
  • That financing included two five-year loans, one in US dollars and one in riyal, and two annually renewable one-year loans, also split between the two currencies.
Published 22 Apr, 2021 06:12pm
OPEC raises 2021 oil demand growth forecast on hopes virus impact wanes
Markets

OPEC raises 2021 oil demand growth forecast on hopes virus impact wanes

  • Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report, up 70,000 bpd from last month.
  • OPEC raised its forecast of 2021 world economic growth to 5.4% from 5.1%, assuming the impact of the pandemic is "largely contained" by the beginning of the second half of the year.
Published 13 Apr, 2021 05:34pm
Oil rises but remains rangebound as COVID-19 cases soar
Markets

Oil rises but remains rangebound as COVID-19 cases soar

  • However, the crude prices have remained rangebound in the past three weeks, with Brent between $60 and $65 a barrel and WTI at $57 to $62.
  • "Oil prices are entering a consolidation phase after swinging wildly last month," said oil broker PVM's Stephen Brennock.
Published 12 Apr, 2021 05:59pm