Trends - OPEC - Business Recorder

OPEC

OPEC+ likely to stick to its guns despite price slump, delegates say

LONDON/DUBAI: OPEC+ is likely to stick to its deal on output cuts of 2 million barrels per day (bpd) until the end...

Published 22 Mar, 2023 05:16pm

Markets

Oil rises for second day as banking fears ease for now

HOUSTON: Oil rose on Tuesday, extending a recovery from a 15-month low hit the previous day, as the rescue of Credit...

Updated 21 Mar, 2023 08:53pm

Markets

Oil rises 2pc as S Arabia, Russia hold talks

BENGALURU: Oil prices rose 2% on Thursday after dropping to near 15-month lows earlier in the session, supported by...

Published 17 Mar, 2023 06:15am

Markets

Saudi January crude exports hit three-month high

Saudi Arabia’s crude oil exports rose nearly 3% in January to a three-month high, data from the Joint Organisations...

Published 16 Mar, 2023 06:46pm

Opinion

The MbS reset

The Arab press hasn’t buzzed like this since al Qaeda (AQ) hijacked the so-called Arab Spring in Libya and Syria,...

Published 16 Mar, 2023 06:01am

Markets

Iraqi oil ouput continued below OPEC+ quota in February

LONDON: Iraq produced 4.34 million barrels per day (bpd) of crude in February, little changed from the previous...

Published 15 Mar, 2023 06:14pm

Markets

Kuwait to cut crude supplies to some Asian refiners as Al Zour refinery ramps up

NEW DELHI: Kuwait has asked some Asian refiners to take less oil under their annual deals as the OPEC producer hopes...

Published 15 Mar, 2023 05:13pm

Markets

Saudi Aramco reports 46% jump in profits for 2022

RIYADH: Saudi Aramco reported on Sunday that profits jumped 46 percent last year, highlighting how a surge in oil...

Published 12 Mar, 2023 12:31pm

Markets

US senators reintroduce bill to pressure OPEC oil producer group

WASHINGTON: A group of bipartisan US senators on Wednesday said they have reintroduced legislation to pressure the...

Published 09 Mar, 2023 06:23am

BR Research

Oil: heading north

When not much seems to be going their way, spreading fake news is the preferred route of the collective West to put ...

Published 08 Mar, 2023 08:37am

Markets

US wants hike in global crude output, including from OPEC: official

HOUSTON: The United States wants to see a hike in oil production, including from OPEC countries, said a senior State...

Published 07 Mar, 2023 01:14pm

Markets

Oil down on China outlook, spotlight on possible rate hikes

LONDON: Oil prices fell on Monday after China set a lower-than-expected target for economic growth this year at...

Updated 06 Mar, 2023 07:26pm

Markets

Oil rises by $1/bbl after denial of reported UAE plan to exit OPEC

BENGALURU: Oil prices rose by more than $1 a barrel on Friday, recovering from an early slump after Reuters reported...

Published 06 Mar, 2023 06:22am

Markets

Oil slips as rising supplies balance Chinese demand hopes

LONDON: Oil slipped on Wednesday, giving up an earlier gain, as signs of ample supply and rising US crude...

Updated 01 Mar, 2023 06:40pm

Markets

Gasoil, jet fuel margins fall on weak fundamentals

SINGAPORE: Asia’s 10 ppm sulphur gasoil and jet fuel margins fell for the second consecutive month as persistently...

Published 01 Mar, 2023 06:21am

Markets

Oil edges up on China demand hopes and supply concerns

NEW YORK: Oil prices edged higher on Monday, buoyed by optimism over Chinese demand, continued production curbs by...

Published 21 Feb, 2023 05:57am

Markets

Oil unlikely to break above $100/bbl this year, J.P.Morgan says

Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical...

Published 17 Feb, 2023 03:27pm

Markets

Oil heads for weekly loss on rate hike worries, ample supply

LONDON: Oil fell about 2% on Friday and was heading for a weekly decline, pressured by concerns of more US Federal...

Updated 17 Feb, 2023 03:18pm

Markets

Gasoil refining margins rise on weaker crude prices

SINGAPORE: Asia’s 10 ppm sulphur gasoil margins rose on Wednesday on weaker crude prices even as US and Middle ...

Published 16 Feb, 2023 06:08am

Markets

Oil drops on US inventory jump and interest rate worries

LONDON: Oil dropped for a second day on Wednesday as an industry report pointed to ample supplies in the United...

Updated 15 Feb, 2023 06:04pm

Markets

OPEC raises 2023 oil demand growth view

LONDON: OPEC has raised its 2023 global oil demand growth forecast in its first upward revision for months, due to...

Published 15 Feb, 2023 06:27am

Markets

Oil prices fall after US crude release lifts supply concerns

BENGALURU: Oil prices fell on Tuesday after the US government said it would release more crude from its Strategic...

Published 15 Feb, 2023 06:27am

Markets

OPEC raises forecast for China-led oil demand growth in 2023

LONDON: OPEC has raised its 2023 forecast for global oil demand growth in its first upward revision for months,...

Published 14 Feb, 2023 06:40pm

Markets

Oil prices fall after US crude release and inflation data

LONDON: Oil prices fell on Tuesday after the US government said it would release more crude from its Strategic...

Updated 14 Feb, 2023 08:02pm

Markets

Oil edges higher as market weighs Russian supply cuts amid demand fears

HOUSTON: Oil prices edged higher on Monday, rebounding from early losses as investors weighed Russia plans to cut...

Published 14 Feb, 2023 05:58am

Markets

OPEC Secretary General says expects demand to reach pre-pandemic levels this year

CAIRO: OPEC Secretary General Haitham Al Ghais said on Sunday that the group expects oil demand to exceed...

Updated 12 Feb, 2023 07:29pm

Markets

Oil rebound more likely this year, $100 a barrel possible, OPEC sources say

LONDON: Oil may resume its rally in 2023 as Chinese demand recovers after COVID curbs were scrapped and lack of...

Published 10 Feb, 2023 10:20pm

World

Iran seeks global investors for projects worth $200bn

BENGALURU: Iran is undertaking projects worth $200 billion and seeking the participation of global investors, Ahmad...

Published 08 Feb, 2023 05:14pm

Markets

Gulf nations to remain major oil suppliers to India for a ‘long time’, minister says

BENGALURU: India, the world’s third-biggest oil importer and consumer, has diversified its sources of energy imports...

Published 08 Feb, 2023 03:06pm

Markets

OPEC secretary general invites India to take part in next OPEC+ meeting

BENGALURU: OPEC Secretary General Haitham Al Ghais has invited India to be a part of the next OPEC+ meeting, the...

Published 08 Feb, 2023 01:42pm

Gainers
Losers
Leaders

Stock	Price
Chakwal Spinning / Mar 30 Chakwal Spinning Mills Limited(CWSM)	1.36 ▲ 0.20 (17.24%)
First IBL Mod. / Mar 30 First IBL Modaraba(FIBLM)	5.90 ▲ 0.60 (11.32%)
First Pak Mod. / Mar 30 First Pak Modaraba(PAKMI)	1.34 ▲ 0.13 (10.74%)
Dewan Sugar / Mar 30 Dewan Sugar Mills Limited(DWSM)	2.57 ▲ 0.23 (9.83%)
Unicap Modaraba / Mar 30 Unicap Modaraba(UCAPM)	1.77 ▲ 0.15 (9.26%)
Premier Insurance / Mar 30 Premier Insurance Limited(PINL)	7.50 ▲ 0.63 (9.17%)
B.R.R.Guardian / Mar 30 B.R.R. Guardian Modaraba(BRR)	12.04 ▲ 0.99 (8.96%)
Ismail Ind. / Mar 30 Ismail Industries Limited(ISIL)	518.26 ▲ 36.15 (7.50%)
Khyber Tex. / Mar 30 Khyber Textile Mills Limited(KHYT)	397.42 ▲ 27.72 (7.50%)
Suraj Cotton / Mar 30 Suraj Cotton Mills Limited(SURC)	102.53 ▲ 7.15 (7.50%)

Stock	Price
First Prudential Mod. / Mar 30 First Prudential Modaraba(PMI)	1.40 ▼ -0.24 (-14.63%)
Trust Mod. / Mar 30 Trust Modaraba(TRSM)	1.30 ▼ -0.20 (-13.33%)
Sapphire Fibres / Mar 30 Sapphire Fibres Limited(SFL)	1018 ▼ -82.00 (-7.45%)
Sardar Chemical / Mar 30 Sardar Chemical Industries Limited(SARC)	32 ▼ -2.55 (-7.38%)
Gadoon Textile / Mar 30 Gadoon Textile Mills Limited(GADT)	192.50 ▼ -15.30 (-7.36%)
Philip Morris Pak. / Mar 30 Philip Morris (Pakistan) Limited(PMPK)	461 ▼ -36.43 (-7.32%)
Pakistan Services / Mar 30 Pakistan Services Limited(PSEL)	876 ▼ -69.10 (-7.31%)
Shield Corp. / Mar 30 Shield Corporation Limited(SCL)	282 ▼ -22.00 (-7.24%)
Bal. Wheel / Mar 30 Baluchistan Wheels Limited(BWHL)	68.42 ▼ -5.18 (-7.04%)
JDW Sugar / Mar 30 JDW Sugar Mills Limited(JDWS)	356 ▼ -26.79 (-7.00%)

Stock	Volume
Telecard Limited / Mar 30 Telecard Limited(TELE)	12,447,500 ▼ -0.21
WorldCall Telecom / Mar 30 Worldcall Telecom Limited(WTL)	9,398,662 ▲ 0.01
Pakistan Alumin / Mar 30 Pakistan Aluminium Beverage Cans Limited(PABC)	7,638,000 ▲ 0.23
Pak Elektron / Mar 30 Pak Elektron Limited(PAEL)	6,136,500 ▼ -0.05
Pak Int.Bulk / Mar 30 Pakistan International Bulk Terminal(PIBTL)	6,018,500 ▲ 0.08
Engro Corp / Mar 30 Engro Corporation Limited(ENGRO)	5,429,492 ▼ -0.02
Nishat Mills Ltd / Mar 30 Nishat Mills Limited(NML)	4,517,879 ▲ 0.46
Shifa Int.Hosp / Mar 30 Shifa International Hospitals Limited(SHFA)	4,299,000 ▼ -1.99
Agha Steel Ind. / Mar 30 Agha Steel Ind.Ltd(AGHA)	3,645,000 ▲ 0.36
K-Electric Ltd. / Mar 30 K-Electric Limited(KEL)	3,416,092 ▲ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Mar 30	284.05
USD PKR Interbank Buying / Mar 30	283.80
USD to Japanese Yen / Mar 30	132.47
USD to Swiss Franc / Mar 30	0.92
Pound Sterling to USD / Mar 30	1.23
Euro to USD / Mar 30	1.08
UK LIBOR % / Mar 29	4.81

Stock	Volume
S&P 500 / Mar 29	4027.81
India Sensex / Mar 29	57960.09
Nasdaq / Mar 29	11926.24
Dow Jones / Mar 29	32717.60
Tokyo Nikkei / Mar 30	27782.93
Hang Seng / Mar 30	20309.13
FTSE 100 / Mar 30	7578.80
Germany DAX 30 / Mar 30	15430.39
France CAC40 / Mar 30	7235.99

Item	Value
Karachi Cotton PKR/37.32 KG / Mar 29	18935
Gold 10 Grams PKR / Mar 29	176268
Crude Oil USD/Barrel / Mar 30	72.81
Gold Spot USD/Ounce / Mar 30	1963.79
Cotton US¢/pound / Mar 30	82.34

OPEC

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