Trends - oil supply - Business Recorder

oil supply

Russian oil supply likely by April

Negotiations with Russia were finalised in 45 days: Petroleum State Minister Musadik Malik

Updated 04 Feb, 2023 09:13pm

ARL warns supply disruption if AGL not operationalized

ISLAMABAD: M/s Attock Refinery Limited (ARL) has warned the government that oil supply to Pakistan Air Force (PAF),...

Updated 14 Dec, 2022 09:48am

22-day cover for petrol, 19-day cover for HSD in hand: Ogra

ISLAMABAD: In response to the letter written by the Oil Companies Advisory Council (OCAC) regarding the oil supply...

Updated 18 Nov, 2022 09:23am

OPEC+ agrees deep oil production cuts

VIENNA/LONDON: OPEC+ agreed steep oil production cuts on Wednesday, curbing supply in an already tight market,...

Published 06 Oct, 2022 05:59am

Markets

Oil rises 1pc on supply concerns, expectations for fuel switching

NEW YORK: Oil edged up 1% on Wednesday as an international energy watchdog expects an increase in gas-to-oil...

Published 15 Sep, 2022 07:16am

Markets

Oil falls on weak economic data, offshore oil restart

NEW YORK: Oil prices fell by more than $5 a barrel on Monday after disappointing Chinese economic data renewed...

Published 16 Aug, 2022 03:59am

OPEC+ agrees tiny output rise in setback for Biden

DUBAI/LONDON: OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount analysts said was a...

Published 04 Aug, 2022 05:43am

Markets

Oil sinks about 4pc after weak factory data sparks demand concerns

NEW YORK: Oil prices dropped about 4% on Monday as weak manufacturing data in several countries weighed on the ...

Published 02 Aug, 2022 06:58am

Markets

Iraq can boost oil output by 200,000 bpd this year if asked: BOC

BASRA: Iraq has the capacity to increase its oil production by 200,000 barrel per day (bpd) this year if asked, an...

Published 22 Jul, 2022 09:55pm

Markets

Oil rises 1pc as tight supply outweighs economic worries

NEW YORK: Oil prices edged up about 1% to a two-week high in volatile trade on Tuesday as the market focused more on...

Published 20 Jul, 2022 07:05am

Markets

Oil rises 2% but set for weekly loss amid recession fears

NEW YORK: Oil prices rose about 2% in volatile trade on Friday but were still heading for a weekly decline as...

Updated 08 Jul, 2022 09:04pm

Opinion

Inflation, stagflation, recession

Years of neoliberal assault globally leading to a diminishing role of government, especially in regulating markets,...

Published 08 Jul, 2022 05:36am

Markets

Russian isolation won’t spark ‘acute’ oil supply crunch: IEA

PARIS: Russia’s growing isolation will not create an “acute” global oil supply crunch as production from other...

Published 13 May, 2022 05:59am

Oil market headed for surplus?

LONDON: Oil supply will soon overtake demand as some producers are set to pump at or above all-time highs, the...

Updated 20 Jan, 2022 09:52am

Markets

Oil prices steady as supply concerns offset Omicron fears

LONDON: Oil prices were little changed on Monday as concerns over oil supply from Kazakhstan and Libya were offset ...

Published 11 Jan, 2022 06:33am

BR Research

Oil volatility returns

Nothing much had changed in the physical market for Brent oil to return losses for seven straight sessions earlier...

Published 26 Aug, 2021 07:35am

Business & Finance

OPEC+ agrees oil supply boost after UAE, Saudi reach compromise

"We are happy with the deal," UAE's Energy Minister Suhail bin Mohammed al-Mazroui told a news conference. Saudi energy minister Prince Abdulaziz bin Salman declined to answer questions on how the compromise was reached.

Published 19 Jul, 2021 12:21am

Markets

OPEC+ agrees oil supply boost from August as prices surge

OPEC+ to ease cuts by 2 mln bpd until year end.
Oil prices near 2-1/2 year highs on pandemic recovery.
Supply management likely to last until end-2022.
Production quotas to be adjusted up from May 2022.

Published 18 Jul, 2021 05:15pm

Markets

Oil prices sink again, as investors look out for more supply

Saudi Arabia and UAE reach compromise on oil supply Investors focus on rising US product inventories Several banks...

Published 16 Jul, 2021 04:34am

Markets

OPEC+ seen sticking with supply plan with Iran's oil yet to return

OPEC+ panel meeting starts, full session set for 1230 GMT.
Iran nuclear talks and supply return in focus.
OPEC's Barkindo says Iran supply return to be orderly.

Published 01 Jun, 2021 07:20pm

BR Research

Oil rebalancing

After stabilizing, oil seems to be entering a stronger phase or maybe its learning to live with the pandemic; not...

Published 01 Jun, 2021 07:35am

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

Markets

Oil drops below $64 as rising OPEC+, Iranian output weighs

OPEC+ to ease some output cuts between May and July.
Iran is also increasing output and exports.
Iran, US to hold indirect nuclear talks on Tuesday.

Published 05 Apr, 2021 06:50pm

Markets

Oil rises as OPEC+ decides on production policy

OPEC+ reaches preliminary deal to raise output from May –sources.
OPEC+ still has deep production cuts in place.
New pandemic waves creates uncertain demand outlook.
Euro zone factory activity soared in March.

Published 01 Apr, 2021 09:04pm

Markets

Oil up as OPEC+ meets to decide on production policy

OPEC+ considers whether to rollover or hike output.
OPEC+ still has deep production cuts in place.
New pandemic waves creates uncertain demand outlook.
Euro zone factory activity soared in March.

Published 01 Apr, 2021 07:09pm

Markets

OPEC+ debates whether to raise or freeze oil output as price recovers

OPEC+ ministers meet at 1300 GMT.
Market had been expecting OPEC+ to ease curbs.
Outlook for Saudi Arabia's voluntary cut unclear.
Oil prices trade near pre-pandemic levels.

Published 04 Mar, 2021 05:12pm

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 oil supply to drop by 400,000 bpd in Jan

OPEC's compliance with pledged supply curbs is close to 100%, the company said.
"The biggest reductions in January supply are expected from Libya, Iraq and Nigeria," Petro-Logistics said.

Published 25 Jan, 2021 09:33pm

Markets

European lenders exit Amazon oil trade after scrutiny by campaigners

Banks phase out financing for Ecuador oil exports.
Indigenous leaders in Amazon rainforest welcome the move.
Advocay groups call for moratorium on new drilling.

Published 25 Jan, 2021 08:05pm

Markets

Russia and Belarus agree oil supply terms for 2021

The two ex-Soviet neighbours have had a patchy relationship over the years and have quarrelled about a number of issues, including oil and gas sales.
reselling some of it and oil products processed from the Russian barrels on to Europe until Moscow decided to stop the practice.

Published 25 Dec, 2020 07:05pm

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Feb 9 786 Investments Limited(786)	4.81 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Feb 9 Al-Abbas Sugar Mills Limited(AABS)	365.50 ▼ 0.00 (0.00%)
Agro Allianz / Feb 9 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Feb 9 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Feb 9 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Feb 9 Allied Bank Limited(ABL)	67 ▼ 0.00 (0.00%)
Abbott Lab. / Feb 9 Abbott Laboratories (Pakistan) Limited(ABOT)	423.36 ▼ 0.00 (0.00%)
Abson Ind. / Feb 9 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Feb 9 Alfalah Consumer Index ETF.(ACIETF)	6.39 ▼ 0.00 (0.00%)
Attock Cement / Feb 9 Attock Cement Pakistan Limited(ACPL)	57.07 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Feb 9 786 Investments Limited(786)	4.81 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Feb 9 Al-Abbas Sugar Mills Limited(AABS)	365.50 ▼ 0.00 (0.00%)
Agro Allianz / Feb 9 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Feb 9 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Feb 9 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Feb 9 Allied Bank Limited(ABL)	67 ▼ 0.00 (0.00%)
Abbott Lab. / Feb 9 Abbott Laboratories (Pakistan) Limited(ABOT)	423.36 ▼ 0.00 (0.00%)
Abson Ind. / Feb 9 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Feb 9 Alfalah Consumer Index ETF.(ACIETF)	6.39 ▼ 0.00 (0.00%)
Attock Cement / Feb 9 Attock Cement Pakistan Limited(ACPL)	57.07 ▼ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Feb 9 Worldcall Telecom Limited(WTL)	64,461,125 ▼ 0.00
Oil & Gas Dev. / Feb 9 Oil & Gas Development Company Limited(OGDC)	22,259,031 ▼ 0.00
Pak Petroleum / Feb 9 Pakistan Petroleum Limited(PPL)	15,889,192 ▼ 0.00
Lotte Chemical / Feb 9 Lotte Chemical Pakistan Limited(LOTCHEM)	13,157,316 ▼ 0.00
K-Electric Ltd. / Feb 9 K-Electric Limited(KEL)	11,849,779 ▼ 0.00
Ghani Glo Hol / Feb 9 Ghani Global Holdings Limited(GGL)	10,987,823 ▼ 0.00
Habib Bank / Feb 9 Habib Bank Limited(HBL)	8,611,564 ▼ 0.00
The Searle Co. / Feb 9 The Searle Company Limited(SEARL)	8,431,550 ▼ 0.00
Sui North Gas / Feb 9 Sui Northern Gas Pipelines Limited(SNGP)	8,311,046 ▼ 0.00
Pak Refinery / Feb 9 Pakistan Refinery Limited(PRL)	7,891,245 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Feb 8	275.30
USD PKR Interbank Buying / Feb 8	273.30
USD to Japanese Yen / Feb 8	131.36
USD to Swiss Franc / Feb 8	0.92
Pound Sterling to USD / Feb 8	1.21
Euro to USD / Feb 8	1.07
UK LIBOR % / Feb 8	4.55

Stock	Volume
S&P 500 / Feb 8	4117.86
India Sensex / Feb 8	60663.79
Tokyo Nikkei / Feb 8	27606.46
Nasdaq / Feb 8	11910.52
Hang Seng / Feb 8	21283.52
FTSE 100 / Feb 8	7885.17
Dow Jones / Feb 8	33949.01
Germany DAX 30 / Feb 8	15412.05
France CAC40 / Feb 8	7119.83

Item	Value
Crude Oil USD/Barrel / Feb 8	78.47
Karachi Cotton PKR/37.32 KG / Feb 8	22235
Gold 10 Grams PKR / Feb 8	169753
Gold Spot USD/Ounce / Feb 8	1875.49
Cotton US¢/pound / Feb 8	85.37

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