Trends - oil producer - Business Recorder

oil producer

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

Markets

Oil jumps but set for weekly loss on Iran nuclear talks

Iran's Rouhani says US will lift sanctions.
Market braces for extra 1 mln bpd Iran supplies in H2.
Front-month prices set for biggest weekly loss since March.

Published 21 May, 2021 08:52pm

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

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

Markets

Oil prices set for weekly gain despite India virus surge

China's exports and services sector expand in April.
April crude imports down 0.2% year on year in China.

Published 07 May, 2021 06:26pm

Markets

Oil up 1pc as US oil stocks fall, demand outlook brightens

US crude stocks fall by more than expected – EIA.
Easing restrictions in UK, US boost demand hopes.
US exports, refining output surge in harbinger of more demand.

Published 05 May, 2021 09:09pm

Business & Finance

Chevron profit drops on weaker refining margins, storm hit

Chevron, the second-largest US oil producer, reported a profit of $1.72 billion, or 90 cents per share, compared with $2.45 billion, or $1.31 per share, a year earlier. Year-ago results included about $680 million in asset sales and favorable tax items.
Net profit was $1.4 billion, or 72 cents a share, down from $3.6 billion, or $1.93 cents a share, a year earlier.

Published 30 Apr, 2021 06:48pm

Markets

Oil prices to drift higher despite India demand hiccup

Demand growth seen at 5.5-6.5 million bpd in 2021.
Fifth straight upward revision to the 2021 Brent consensus.
Benchmark Brent crude to average $64.17/bbl in 2021.
US crude forecast to average $61.01/bbl this year.

Published 30 Apr, 2021 06:43pm

Markets

Oil prices rise, bullish demand outlook offsets India concerns

US refinery run rates highest since March 2020.
Oil demand could rise to 101.5 million bpd this summer – Citi.
US dollar at nine-week lows.

Published 29 Apr, 2021 05:05pm

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

Markets

Oil rises to $66 ahead of OPEC+ meeting, India weighs

OPEC+ brings forward monitoring meeting to Tuesday.
India's total COVID-19 deaths near 200,000.
Iran nuclear talks due to resume on Tuesday.
Coming up: API oil inventory report, 2030 GMT.

Published 27 Apr, 2021 06:52pm

Markets

Oil prices dip on mixed supply and demand outlook

Brent crude futures for June fell 32 cents, or 0.32%, to $62.88 a barrel.
Both contracts are on track for a 2%-3% drop this week but still far from a low of $60.47 hit two weeks ago. Exerting downward pressure is the decision by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, to increase supplies by 2 million barrels per day between May and July.

Published 09 Apr, 2021 07:35pm

Markets

Oil rises on hopes for stable OPEC+ output, fears of long disruption at Suez Canal

Brent oil rose 58 cents, or 0.9%, to $65.15 a barrel.
Both contracts had fallen more than $1 earlier in the session.
The huge container ship blocking Egypt's Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said.

Published 29 Mar, 2021 06:13pm

Markets

Oil prices rise on fears Suez blockage may last weeks

Brent, WTI rise about 2% but set for 3rd weekly loss.
Ship blocking Suez may take weeks to free-salvage firm.
Shipping rates rise, oil and gas tankers diverted.
- UAE's ADNOC deepens supply cuts to Asia in June –sources.

Published 26 Mar, 2021 05:16pm

Markets

Oil rises as Suez Canal ship runs aground, demand fears weigh

API says US crude inventories rise 2.9 million barrels.
Germany's Merkel says drops plan for stricter Easter shutdown.
Sentiment still bearish after other pandemic curbs in Europe.
Ship in blocked convoy in Suez Canal on move- source and witness.

Published 24 Mar, 2021 08:20pm

Markets

Oil prices edge higher after sell-off driven by demand concerns

Brent crude was up 31 cents, or 0.5%, at $63.59 a barrel.
Oil closed about 7% down on Thursday as several large European economies reimposed lockdowns and vaccination programmes were slowed by distribution issues and concerns over potential side effects.

Published 19 Mar, 2021 09:05pm

Markets

Oil prices steady after sell-off driven by demand fears

Brent crude was up 2 cents at $63.30 a barrel.
WTI US crude rose 15 cents, or 0.3%, to $60.15. Both traded within a wide range of more than $2 a barrel on Friday.

Published 19 Mar, 2021 06:22pm

Markets

Oil falls as inventories rise and vaccine rollout stalls

Brent crude fell 50 cents, or 0.74%, to $67.50 a barrel by 1150 GMT after dropping 0.82% on Wednesday.
Short-term developments - stuttering vaccine rollouts and the build in US oil inventories - are driving sentiment, but the longer-term oil outlook is still encouraging.

Published 18 Mar, 2021 05:22pm

Markets

Oil steady near $70 on hopes of recovering demand

Gasoline demand expected to jump during summer.
US crude output to grow this year, JP Morgan says.
OPEC sees stronger oil demand recovery in second half.

Published 12 Mar, 2021 08:14pm

Markets

Oil prices broadly stable ahead of OPEC+ meeting

OPEC+ ministers meet on Thursday, future Saudi output unclear.
US crude inventories surge, fuel stocks fall –EIA.
Yemen's Houthis say they fired missile at Saudi Aramco site.

Published 04 Mar, 2021 07:29pm

Markets

India urges OPEC+ to ease output cuts to rein in oil prices

The price-sensitive Indian consumers are affected by rising petroleum product prices.
Besides hitting fuel demand, higher oil prices could potentially hinder economic growth in developing countries including India, he said.

Published 17 Feb, 2021 08:37pm

Markets

Saudi Arabia set to raise oil output amid recovery in prices: WSJ

Saudi Arabia is expected to announce its plans when a coalition of oil producers meets next month, according to the WSJ report, adding that the output rise won't kick in until April.

Published 17 Feb, 2021 07:49pm

Business & Finance

Kuwait plans to shorten oil supply deals for some Asian buyers

Kuwait plans to sign only nine-month supply contracts.
Aims to start Al-Zour refinery this year or by early 2022.
Will assess domestic demand before commits to 2022 Q1 supplies.

Published 17 Feb, 2021 07:02pm

Markets

OPEC experts meet as rising oil prices mask demand worries

Oil has rallied from historic lows reached last year as demand collapsed due to the pandemic thanks to record OPEC+ output cuts.
"A positive start," said one OPEC delegate. "The group wants a quick meeting with a positive agenda."

Published 02 Feb, 2021 07:01pm

Business & Finance

Exxon posts first annual loss as a public company on COVID-19 blow

Exxon cut up to 15% of its workforce and delayed oil and gas projects after accepting oil prices could remain below $60 a barrel for years.
The company reported a net annual loss of $22.44 billion for 2020, compared with a full-year profit of $14.34 billion in 2019.

Published 02 Feb, 2021 06:52pm

Markets

Saudi voluntary oil cut to help with low demand in Q1, OPEC chief says

Saudi Arabia, the defacto leader of the Organization of the Petroleum Exporting Countries (OPEC).
Mohammad Barkindo, who spoke to the Gulf Intelligence online forum, said oil inventories globally - in both OECD and non-OECD countries- are "very high".

Published 13 Jan, 2021 08:43pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jul 26	278.40
USD PKR Interbank Buying / Jul 26	278.20
USD to Japanese Yen / Jul 26	153.77
USD to Swiss Franc / Jul 26	0.88
Pound Sterling to USD / Jul 26	1.29
Euro to USD / Jul 26	1.09

Stock	Volume
S&P 500 / Jul 25	5,399.22
Nasdaq / Jul 25	17,181.72
Dow Jones / Jul 25	39,935.07
India Sensex / Jul 26	80,709.64
Tokyo Nikkei / Jul 26	37,865.35
Hang Seng / Jul 26	17,058.55
FTSE 100 / Jul 26	8,255.78
Germany DAX 30 / Jul 26	18,346.62

Item	Value
Crude Oil USD/Barrel / Jul 26	78.38
Karachi Cotton PKR/37.32 KG / Jul 26	17,035
Gold 10 Grams PKR / Jul 26	215,621
Gold Spot USD/Ounce / Jul 26	2,374.19
Cotton US¢/pound / Jul 26	68.62
Petrol/Litre / Jul 27	275.60

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Jul 27 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jul 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jul 27 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jul 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jul 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jul 27 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jul 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jul 27 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jul 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jul 27 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jul 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jul 27 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jul 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jul 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jul 27 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jul 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jul 27 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jul 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jul 27 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jul 27 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jul 27 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jul 27 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jul 27 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jul 27 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jul 27 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jul 27 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jul 27 Telecard Limited(TELE)	12,358,668 ▲ 0.00

Markets →

Calculate your monthly liability in FY24

oil producer

Most Popular