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Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
23,133
4424hr
Pakistan Cases
1,015,827
4,11924hr
7.88% positivity
Sindh
371,762
Punjab
354,312
Balochistan
29,861
Islamabad
86,226
KPK
142,400

oil markets

Oil edges higher as tight supply outweighs virus spread

Oil edges higher as tight supply outweighs virus spread

  • Brent crude futures rose 23 cents, or 0.3%, to $74.73 a barrel
  • With oil demand growth likely outpacing supply growth in the near term, we expect oil tightness over the summer, which should boost oil prices
Published 27 Jul, 2021 06:35pm
Oil trades at multi-year highs on demand expectations
Markets

Oil trades at multi-year highs on demand expectations

  • Vitol CEO sees oil price around $70-$80/bbl this year.
  • Trafigura CEO says good chance oil gets to $100/bbl.
  • POLL-US crude inventories seen falling for 4th week in a row.
  • Coming Up: API data on US crude stocks at 4:30 p.m. ET.
Published 15 Jun, 2021 09:01pm
Oil rises on optimism about demand outlook
Markets

Oil rises on optimism about demand outlook

  • Brent crude was up by 52 cents, or 0.7%, at $73.38 a barrel.
  • We have had those stock draws for a couple months, the market is heading in the right direction ... my impression it is not a super cycle.
Published 15 Jun, 2021 05:34pm
Oil rises to highest since March on demand prospects
Markets

Oil rises to highest since March on demand prospects

  • OPEC+ decided in April to return 2.1 million barrels per day (bpd) of supply to the market from May to July, anticipating rising global demand despite the high number of coronavirus cases in India, the world's third-largest oil consumer.
Published 01 Jun, 2021 11:15pm
Oil near one-week high as prospect of Iran glut wanes
Markets

Oil near one-week high as prospect of Iran glut wanes

  • Brent crude futures were down 30 cents, or 0.4%, at $68.16 a barrel by 1004 GMT, having jumped 3% on Monday. US West Texas Intermediate futures were off 42 cents, or 0.6%, at $65.63 a barrel, after gaining 3.9% the previous session.
  • Still, the global recovery from the COVID-19 pandemic is patchy, indicating a mixed outlook for oil demand.
Published 25 May, 2021 05:18pm
Iran again boosts OPEC oil output in April
Markets

Iran again boosts OPEC oil output in April

  • OPEC April output rises 100,000 bpd from March.
  • Compliance with OPEC+ cut pledges slips to 123%.
  • Iran posts OPEC's biggest output gain despite sanctions.
  • Biggest declines seen in Venezuela and Libya.
Published 30 Apr, 2021 06:38pm
Imperial Oil swings to quarterly profit helped by oil price recovery
Business & Finance

Imperial Oil swings to quarterly profit helped by oil price recovery

  • Calgary-based Imperial, which is majority-owned by Exxon Mobil Corp, is benefitting from higher global oil prices as fuel usage picks up from last year, when coronavirus pandemic-related lockdowns decimated demand.
  • The recovery, however, remains spotty with second and third waves of COVID-19 surging in various parts of the world, including Canada, and an uneven rollout of vaccines.
Published 30 Apr, 2021 06:35pm
Oil prices rise as demand outlook offsets COVID worries
Markets

Oil prices rise as demand outlook offsets COVID worries

  • OPEC+ sticks to plan to ease oil output cuts from May 1.
  • Goldman sees surge in oil demand over next six months.
  • India's COVID-19 death toll surges past 200,000.
  • Rystad sees 1 mln b/d demand hit in May from India COVID wave.
  • API shows increase in US crude inventories.
Published 28 Apr, 2021 08:12pm
Mexican oil output slightly below target agreed with OPEC+
Markets

Mexican oil output slightly below target agreed with OPEC+

  • "We are fine, we are fulfilling our target and the commitment Mexico made before OPEC+, which is 1.753 million bpd," Nahle said at a virtual convention organized by Mexico's Association of Hydrocarbon Companies. "We are slightly below that, which gives us flexibility to continue working."
Published 27 Apr, 2021 08:18pm