Trends - Oil - Business Recorder

Business & Finance

US poised to become net exporter of crude oil in 2023

HOUSTON: The United States has become a global crude oil exporting power over the last few years, but exports have...

Published 20 Dec, 2022 05:58am

Markets

Qatar’s Q3 surplus soars on higher oil and gas revenues

DUBAI, Qatar posted a budget surplus of 30 billion riyals ($8.19 billion) for the third quarter of 2022, boosted by...

Published 19 Dec, 2022 06:00am

Business & Finance

Discounted crude, refined products: Pakistan-Russia IGC to meet in Jan

ISLAMABAD: Pakistan-Russia Inter-Governmental Commission (IGC) would arrive in January 2023 for negotiation on...

Updated 17 Dec, 2022 09:35am

Markets

Oil falls over 3%, still set for weekly gain on demand hopes

LONDON: Oil fell over 3% on Friday as the market assessed the aftermath of interest rates hikes by central banks,...

Updated 16 Dec, 2022 07:56pm

Pakistan

Discounted Russian oil not ‘a reality,’ says Bilawal

UNITED NATIONS: Pakistan is seeking “to address the energy shortfalls and difficulties we’re facing,” Foreign...

Published 16 Dec, 2022 07:42am

Print

‘National contingency energy saving plan’ prepared to reduce import bill

ISLAMABAD: Minister for Information and Broadcasting Marriyum Aurangzeb said on Thursday that National Contingency...

Updated 16 Dec, 2022 09:27am

Markets

Gasoil margins, premiums up

SINGAPORE: Asia’s 10-ppm sulphur gasoil margins on Wednesday recouped losses with premiums hitting their highest...

Published 15 Dec, 2022 07:28am

Opinion

Russian oil sold to India below price cap in buyers’ market

Russia’s flagship Urals crude has been sold at deeper discounts this month following a European ban on Russian oil...

Published 15 Dec, 2022 06:45am

Markets

Oil rises as dollar slumps on slowing inflation

NEW YORK: Oil rose to more than $80 a barrel on Tuesday as investors bought up risk assets after US data pointed to...

Published 14 Dec, 2022 05:57am

Markets

Oil climbs on supply disruptions, China optimism

LONDON: Oil extended gains on Tuesday on supply disruptions and as COVID restrictions eased in China, the world’s...

Updated 13 Dec, 2022 05:43pm

Markets

Saudi minister sees no clear results yet from Russia price cap

RIYADH: Saudi energy minister Prince Abdulaziz bin Salman said on Sunday the impact of European sanctions on Russian...

Published 12 Dec, 2022 06:55am

Markets

Transneft to lift oil shipment tariffs by 6pc next year

MOSCOW: Russian oil pipeline monopoly Transneft is set to increase the tariffs for transporting crude oil via its...

Published 12 Dec, 2022 06:07am

Business & Finance

Rosneft reports $889m loss from assets ‘transfer’ in Germany

MOSCOW: Russia’s oil giant Rosneft said Wednesday its profit over the past nine months had been badly hit by the...

Published 12 Dec, 2022 06:07am

Opinion

Oily matters – II

Electrical Vehicles Immediate solutions are never possible or feasible. There has to be alternative plan and...

Published 11 Dec, 2022 04:02am

Print

Xi calls for oil trade in yuan

RIYADH: President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil and gas in yuan, a...

Updated 10 Dec, 2022 09:56am

Print

Russia could cut oil production over West’s ‘stupid’ price cap

MOSCOW: Russia, the world’s biggest exporter of energy, could cut oil production and will refuse to sell oil to any...

Updated 10 Dec, 2022 09:56am

Print

Oil rebounds, but still on track for biggest weekly declines

NEW YORK: Oil prices gained around a dollar on Friday, but global benchmarks were set for their biggest weekly...

Updated 10 Dec, 2022 09:59am

Print

Oil prices down

NEW YORK: Oil prices edged lower on Thursday on the prospect of a major crude pipeline that shut after a leak...

Published 09 Dec, 2022 05:58am

Markets

Oil rebounds from 2022 lows on China demand hopes, tanker delays

LONDON: Oil rebounded on Thursday after four sessions of decline, boosted by hopes that easing anti-COVID measures...

Updated 08 Dec, 2022 03:23pm

Opinion

Oily matters – I

Pakistan’s oil imports are the biggest drain on foreign exchange. Current year’s oil import bill has been...

Published 08 Dec, 2022 06:10am

Markets

Oil dips, hits lowest mark since January

HOUSTON: Oil edged to its lowest since the start of the year in volatile trading, after US government data showed an...

Published 08 Dec, 2022 05:58am

Print

US warns of Chinese influence in ME

RIYADH: Chinese President Xi Jinping arrived in Saudi Arabia on Wednesday on a visit Beijing hailed as its biggest...

Updated 08 Dec, 2022 09:16am

Print

Oil from Russia: Musadik says there will be no US sanctions

ISLAMABAD: Minister of State for Petroleum Musadik Malik on Tuesday said that the government is not deliberating on...

Updated 07 Dec, 2022 09:47am

Print

Oil prices slump to pre-Ukraine crisis levels

NEW YORK: US oil prices fell in frenzied trading on Tuesday to their lowest settlement levels this year, with Brent...

Updated 07 Dec, 2022 09:52am

Markets

Ukraine slams India for buying Russian oil

NEW DELHI: Ukraine’s foreign minister condemned India’s ramping up of Russian oil purchases following Moscow’s...

Published 07 Dec, 2022 05:54am

Markets

Analysts optimistic about prospects of Pakistan-Russia oil deal

KARACHI: Pakistan may save around $1.0 billion annually or 6.0 percent of the total energy bill of $18 billion...

Published 07 Dec, 2022 05:54am

Markets

Oil prices fall on economic fears, dollar strength

LONDON: Oil prices fell in a volatile market on Tuesday as the U.S. dollar stayed strong and economic uncertainty...

Updated 06 Dec, 2022 08:38pm

Opinion

Russian oil sanctions fuel boom for old tankers

The market for old oil tankers is booming, and it’s all down to efforts by Western nations to curb trade in ...

Updated 06 Dec, 2022 06:32am

Markets

Gasoil margins down on limited buying

SINGAPORE: Asia’s 10 ppm sulphur gasoil margins and premiums extended losses on Monday over limited buying ...

Published 06 Dec, 2022 05:58am

Print

Oil falls nearly 3pc after data raises Fed interest rate worries

NEW YORK: Oil prices fell nearly 3% on Monday, following US stock markets lower, after US service sector data raised...

Published 06 Dec, 2022 05:58am