Trends - OPEC - Business Recorder

OPEC

OPEC sees US shale output recovering further on oil rally

Leaves 2021 oil demand growth forecast at 5.90 million bpd.
OPEC December output rises by 280,000 bpd on Libya, UAE, Iraq.
Extent of 2021 economic recovery uncertain as virus persists.

Published 14 Jan, 2021 09:35pm

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

Markets

Oil hits 11-month high near $57 on tight supply expectations

Saudi Arabia plans to cut output by an extra 1 million barrels per day (bpd) in February and March to keep inventories in check.

Published 13 Jan, 2021 12:12am

Markets

Kazakhstan's GDP falls 2.6% in 2020

The oil-rich Central Asian nation has been hit by the drop in crude prices amid the COVID-19 pandemic.

Published 12 Jan, 2021 01:12pm

Markets

Kazakhstan says 96% compliant with OPEC+ deal in Dec

Kazakh oil output, not including condensate which is not covered by the deal.

Published 11 Jan, 2021 11:21am

Markets

OPEC crude output cuts should help US shale profits in 2021

Oil would have to hit $60 to $65 per barrel to restore US output by 1 million barrels per day while improving investor returns, said Raoul LeBlanc, a vice president at data provider IHS Markit.

Published 10 Jan, 2021 01:21pm

Markets

Oil hits highest since late Feb on Saudi cuts, US stock draw

WTI rose as far as $51.28 and was last up 33 cents, or 0.7% at $50.96.

Published 07 Jan, 2021 04:18pm

Markets

OPEC December oil output rises for sixth month led by Libya: survey

OPEC December output rises 280,000 bpd from November.
Compliance to OPEC+ cut pledges weakens to 99%, lowest since Aug.
UAE posts largest output rise among quota-bound members.

Published 06 Jan, 2021 08:53pm

Markets

Stocks fall as investors brace for possible 'blue sweep' in Georgia

The euro rose to as high as $1.2328, a high last seen in April 2018, while the yen hit a 10-month high of 102.595 to the dollar.

Published 06 Jan, 2021 12:40pm

Markets

Oil hits 11-month high after Saudi Arabia pledges voluntary output cut

"Despite this bullish supply agreement, we believe Saudi's decision likely reflects signs of weakening demand as lockdowns return," Goldman Sachs said in a note, although the investment bank maintained its year-end 2021 forecast for Brent of $65 a barrel.

Published 06 Jan, 2021 12:36pm

Markets

OPEC+ to continue talks for deal on February production

The two heavyweights among the producers gathering on Tuesday, Saudi Arabia and Russia, are on opposing sides of the debate, with Riyadh urging caution and Moscow keen to boost production.

Published 05 Jan, 2021 04:49pm

Markets

Russian rouble rises, MOEX index at all-time high

In 2021, the rouble is expected to partly recover but will still be far from levels seen in early 2020 before the pandemic.

Published 04 Jan, 2021 02:00pm

Markets

OPEC+ meeting to set February production levels

On April 20, WTI crude collapsed to minus $40.32 per barrel -- meaning producers paid buyers to take the oil off their hands.

Published 04 Jan, 2021 11:38am

Markets

Oil prices rise on expectations that OPEC+ likely to maintain output

Analysts from Energy Aspects and RBC Capital said OPEC+ was likely to maintain January production levels in February.

Published 04 Jan, 2021 09:26am

Markets

OPEC ready to adjust oil output increases: Barkindo

OPEC+ first cut output by 9.7 million bpd, then eased cuts to 7.7 million and ultimately to 7.2 million from January.

Published 03 Jan, 2021 08:57pm

Markets

New Year OPEC+ meeting to decide production levels

Despite a pick up in prices towards the end of last year, the market levels for black gold remain uncertain.

Published 02 Jan, 2021 04:36pm

BR Research

Crude oil: what’s in store for 2021?

If one word could sum up 2020 for crude oil, it would be ‘volatile’. Key highlight of 2020 for crude oil was the...

Published 31 Dec, 2020 07:35am

World

Venezuela's Maduro calls extension of parliament 'unconstitutional'

Guaido labels Maduro a corrupt dictator who has overseen the economic collapse of the once-prosperous OPEC nation.

Published 29 Dec, 2020 09:55am

Markets

China's Nov US oil imports near record, Saudi imports up 43pc on month

China's US oil imports hit 3.61 million tonnes, about 878,839 barrels per day (bpd). That's up from 0.26 million tonnes in November last year and versus October's 1.625 million tonnes.
The November level compares to the record set in September of 3.9 million tonnes,

Published 25 Dec, 2020 05:24pm

Markets

Oil rises above $50 as vaccine optimism counters new lockdowns

The latest snapshots of U.S. oil supplies are expected to show a mixed picture, with gasoline and distillate stocks rising and crude inventories falling.

Published 15 Dec, 2020 06:27pm

Markets

OPEC cuts 2021 oil demand outlook again as pandemic impact lingers

OPEC said its output rose by 710,000 bpd to 25.11 million bpd in November, driven by a rebound in Libya, an OPEC member exempted from making cuts.

Published 14 Dec, 2020 08:10pm

World

Kuwait emir reappoints Sheikh Sabah al-Khalid as PM

Sheikh Nawaf, who took over the reins of the OPEC member state in September after the death of his brother, has asked Sheikh Sabah to nominate members of a new cabinet for approval by the emir.

Published 08 Dec, 2020 04:54pm

Markets

OPEC+ to boost output as oil market tightens

In the three months between August and October, the latest for which data is available, UAE production was down by an average of almost 20% compared with the same period a year earlier.

Published 07 Dec, 2020 09:42am

Markets

OPEC reaches consensus to extend oil cuts in Q1 if allies agree

OPEC+ officials failed to agree in Sunday's informal talks.
New coronavirus wave prompted rethink on output policy.
Saudi wants extension of existing production cuts.
Russia backs gradual output increase from January.

Published 01 Dec, 2020 12:29am

Markets

OPEC to discuss extension of output cuts beyond January

Whether all members are currently sticking to the output quotas that have already been assigned to them has also become a sensitive topic.

Published 30 Nov, 2020 05:39pm

Markets

OPEC, allies mull extending output cuts

The trend is unlikely to be reversed as victorious Democratic presidential candidate Joe Biden has committed to modest curbs on fracking.

Published 29 Nov, 2020 05:19pm

Saudi confident of 'friendly' ties with Biden: official

During his election campaign, Biden threatened to make Saudi Arabia "the pariah that they are".

Published 22 Nov, 2020 06:06pm

Markets

Oil set for third week of gains on vaccine hopes

The more active U.S. West Texas Intermediate (WTI) January crude contract gained 17 cents, or 0.4pc, to $42.07 a barrel. The WTI contract for December, which expires on Friday, was up 2 cents at $41.76.

Published 20 Nov, 2020 04:11pm

Business & Finance

OPEC expects coronavirus to curb oil demand recovery into 2021

Demand will rise by 6.25 million barrels per day(bpd) next year to 96.26 million bpd, the Organization of thePetroleum Exporting Countries said in a monthly report. Thegrowth forecast is 300,000 bpd less than expected a month ago.

Published 12 Nov, 2020 10:05am

Markets

OPEC forecasts weaker oil demand in 2020-21

Overall demand was tipped to come in slightly above 90 million bpd, the report said.

Published 11 Nov, 2020 07:10pm

Gainers
Losers
Leaders

Stock	Price
B.R.R. Mod. (R) / Jan 18 B.R.R. Guardian Modaraba (R)(BRRR)	2.54 ▲ 1.17 (70.47%)
Popular Islamic Mod. / Jan 18 Popular Islamic Modaraba(PIM)	6.94 ▲ 1.00 (15.67%)
Pakistan Cables / Jan 18 Pakistan Cables Limited(PCAL)	157.59 ▲ 21.21 (15.07%)
Khurshid Spinng / Jan 18 Khurshid Spinning Mills Limited(KHSM)	18.41 ▲ 1.28 (14.99%)
Khairpur / Jan 18 Khairpur Sugar Mills Limited(KPUS)	52.72 ▲ 6.72 (14.61%)
B.R.R. Mod. / Jan 18 B.R.R. Guardian Modaraba(BRR)	12.50 ▲ 1.30 (11.61%)
Nagina Cot. / Jan 18 Nagina Cotton Mills Limited(NAGC)	57.51 ▲ 4.61 (8.51%)
Pakgen Power / Jan 18 Pakgen Power Limited(PKGP)	25.98 ▲ 1.98 (8.25%)
Tata Textile / Jan 18 Tata Textile Mills Limited(TATM)	56.86 ▲ 3.96 (7.28%)
F.Treet Manuf.Mod / Jan 18 First Treet Manufacturing Modaraba(FTMM)	17.87 ▲ 1.22 (7.26%)

Stock	Price
Sally Tex. / Jan 18 Sally Textile Mills Limited(SLYT)	4.71 ▼ 0.00 (-11.96%)
KASB Mod. / Jan 18 KASB Modaraba(KASBM)	1.60 ▼ 0.31 (-11.11%)
IbrahimFibres / Jan 18 Ibrahim Fibres Limited(IBFL)	105.02 ▼ 6.95 (-10.96%)
Saudi Pak Leas. / Jan 18 Saudi Pak Leasing Company Limited(SPLC)	1.60 ▼ 0.32 (-9.09%)
First Pak Modaraba / Jan 18 First Pak Modaraba(PAKMI)	2.21 ▼ 0.92 (-8.68%)
First Prud Mod. / Jan 18 First Prudential Modaraba(PMI)	2.11 ▼ 1.01 (-8.26%)
Shadman Cotton / Jan 18 Shadman Cotton Mills Limited(SHCM)	22.89 ▼ 1.71 (-6.95%)
Media Times / Jan 18 Media Times Limited(MDTL)	2.05 ▼ 0.22 (-6.82%)
Yousuf Weaving / Jan 18 Yousaf Weaving Mills Limited(YOUW)	4.69 ▼ 0.13 (-6.76%)
Pak. P.V.C. / Jan 18 Pakistan PVC Limited(PPVC)	3.55 ▼ 0.09 (-6.58%)

Stock	Volume
TRG Pak. / Jan 18 TRG Pakistan Limited(TRG)	47,593,500 ▼ 7.79
Fauji Foods / Jan 18 Fauji Foods Limited(FFL)	44,616,500 ▼ 1.25
Hum Network / Jan 18 Hum Network Limited(HUMNL)	38,439,000 ▼ 0.50
K-Electric Ltd / Jan 18 K-Electric Limited(KEL)	33,013,500 ▼ 0.05
Power Cement / Jan 18 Power Cement Limited(POWER)	29,144,000 ▼ 0.89
Unity Foods / Jan 18 Unity Foods Limited(UNITY)	21,084,818 ▼ 0.75
Jahangir Sid. Co. / Jan 18 Jahangir Siddiqui & Co. Ltd.(JSCL)	20,909,000 ▼ 1.94
Fauji Fert. Bin / Jan 18 Fauji Fertilizer Bin Qasim Limited(FFBL)	18,554,500 ▼ 0.50
Pakistan Refinery / Jan 18 Pakistan Refinery Limited(PRL)	18,531,000 ▼ 0.29
Worldcall / Jan 18 Worldcall Telecom Limited(WTL)	18,273,500 ▼ 0.08

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Jan 16	160.35
USD PKR Interbank Buying / Jan 16	160.20
USD to Japanese Yen / Jan 16	103.90
USD to Swiss Franc / Jan 16	0.89
Pound Sterling to USD / Jan 16	1.36
Euro to USD / Jan 16	1.21

Stock	Volume
S&P 500 / Jan 16	3770.02
India Sensex / Jan 16	49034.67
Tokyo Nikkei / Jan 16	28519.18
Nasdaq / Jan 16	12998.50
Hang Seng / Jan 16	28573.86
FTSE 100 / Jan 16	6735.71
Dow Jones / Jan 16	30814.26
Germany DAX 30 / Jan 16	13787.73
France CAC40 / Jan 16	5611.69

Indicator	Value
UK LIBOR % / Jan 16	0.09

OPEC

OPEC sees US shale output recovering further on oil rally

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

Oil hits 11-month high near $57 on tight supply expectations

Kazakhstan's GDP falls 2.6% in 2020

Kazakhstan says 96% compliant with OPEC+ deal in Dec

OPEC crude output cuts should help US shale profits in 2021

Oil hits highest since late Feb on Saudi cuts, US stock draw

OPEC December oil output rises for sixth month led by Libya: survey

Stocks fall as investors brace for possible 'blue sweep' in Georgia

Oil hits 11-month high after Saudi Arabia pledges voluntary output cut

OPEC+ to continue talks for deal on February production

Russian rouble rises, MOEX index at all-time high

OPEC+ meeting to set February production levels

Oil prices rise on expectations that OPEC+ likely to maintain output

OPEC ready to adjust oil output increases: Barkindo

New Year OPEC+ meeting to decide production levels

Crude oil: what’s in store for 2021?

Venezuela's Maduro calls extension of parliament 'unconstitutional'

China's Nov US oil imports near record, Saudi imports up 43pc on month

Oil rises above $50 as vaccine optimism counters new lockdowns

OPEC cuts 2021 oil demand outlook again as pandemic impact lingers

Kuwait emir reappoints Sheikh Sabah al-Khalid as PM

OPEC+ to boost output as oil market tightens

OPEC reaches consensus to extend oil cuts in Q1 if allies agree

OPEC to discuss extension of output cuts beyond January

OPEC, allies mull extending output cuts

Saudi confident of 'friendly' ties with Biden: official

Oil set for third week of gains on vaccine hopes

OPEC expects coronavirus to curb oil demand recovery into 2021

OPEC forecasts weaker oil demand in 2020-21

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