Trends - OPEC - Business Recorder

OPEC

One year on from historic sub-zero plunge oil prices recover

The short but intense falling out between two heavyweights in the 13-member cartel of oil-producing nations and its 10 affiliates threatened world crude storage capacity levels with cheap oil.

Published 21 Apr, 2021 11:19am

Markets

Oil surges to fresh 4-week highs

• IEA and OPEC boost global oil demand growth forecasts for 2021 NEW YORK: Oil prices edged up to fresh four-week...

Published 16 Apr, 2021 03:40am

Markets

Oil surges as US stocks waffle on valuation fears

However, Coinbase shares finished at $328.28, well below the session peak of $429.54.

Published 15 Apr, 2021 10:26am

Goodbye oil glut thanks to OPEC+ and recovery: IEA

PARIS: A glut in global oil markets is being worked off as the world economy begins to recover from the Covid-19...

Published 15 Apr, 2021 03:22am

Markets

Oil maintains upward momentum but virus concerns cap gains

Traders are waiting to see if official inventory data from the US Energy Information Administration (EIA) on Wednesday matches that view.

Published 14 Apr, 2021 12:06pm

Markets

OPEC sees rising oil demand as it plans to open taps

Such an increase would push global demand to 96.5 million bpd in 2021 after last year's tumble due to coronavirus restrictions.

Published 13 Apr, 2021 06:54pm

Markets

OPEC raises 2021 oil demand growth forecast on hopes virus impact wanes

Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report, up 70,000 bpd from last month.
OPEC raised its forecast of 2021 world economic growth to 5.4% from 5.1%, assuming the impact of the pandemic is "largely contained" by the beginning of the second half of the year.

Published 13 Apr, 2021 05:34pm

Markets

Saudi Arabia meets May crude supply for most Asian buyers

Last month, Saudi Aramco cut the supply of April-loading crude to at least four north Asian buyers by up to 15%.

Published 12 Apr, 2021 01:57pm

Markets

Oil prices down

NEW YORK: Oil prices edged lower on Friday on rising supplies from major producers and concerns over a mixed picture...

Published 10 Apr, 2021 04:34am

Markets

Oil prices dip on mixed supply and demand outlook

"If a fulsome framework can be crafted in the coming weeks, significant quantities of Iranian oil will likely hit the market in H2 2021," RBC Capital analyst Helima Croft said in a note this week.

Published 09 Apr, 2021 03:43pm

Markets

Oil prices hold steady as investors weigh rising supplies, demand outlook

Stephen Innes, chief global markets strategist at Axi, said oil prices are expected to trade in a range between $60 and $70 as investors weigh these factors.

Published 09 Apr, 2021 11:16am

BR Research

Crude oil – price strengthening amid turbulence

In the midst of rising coronavirus cases with many economies under the third spell of the virus, the general trend ...

Published 09 Apr, 2021 07:30am

Markets

Oil prices slip after surprise hefty build in U.S. gasoline stocks

Brent crude futures lost 21 cents, or 0.3pc, to $62.53 a barrel by 11:15 a.m. EDT (1515 GMT) while U.S. West Texas Intermediate crude fell 25 cents, or 0.4pc, to $59.08.

Updated 08 Apr, 2021 12:18am

Markets

Kazakhstan exceeds OPEC+ quota in March, produces 1.475mn bpd

The former Soviet republic will offset the overproduction in the summer, the ministry said, when some of the biggest oilfields are set to shut down for maintenance.

Published 07 Apr, 2021 01:10pm

Markets

Oil gains over 1pc on strong US, China economic data

NEW YORK: Strong economic data from China and the United States helped lift oil prices by more than 1% on Tuesday,...

Published 07 Apr, 2021 03:48am

UAE begins commercial operations of first Arab nuclear plant

ABU DHABI: The United Arab Emirates announced Tuesday that its Barakah nuclear power plant has started commercial...

Published 07 Apr, 2021 03:48am

Opinion

Power play: Does India really wield oil ‘weapon’?

When India’s government last month asked refiners to speed up diversification and reduce dependence on the Middle...

Published 04 Apr, 2021 04:12am

Markets

Oil settles up over $2 despite OPEC+ production cuts

• OPEC+ still has deep production cuts in place • New pandemic waves create uncertain demand outlook NEW YORK:...

Published 02 Apr, 2021 04:58am

Markets

Prolonged OPEC+ output cuts will confirm bearish outlook

LAUNCESTON, (Australia): What a difference a month can make for markets trying to guess which way the OPEC+ group of...

Published 02 Apr, 2021 04:58am

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

Stocks rally after Biden infrastructure boost

Oil prices rallied with the OPEC+ alliance expected to agree an extension to their current output cuts at a meeting later in the day.

Published 01 Apr, 2021 04:21pm

Markets

Middle East Crude-Dubai rises ahead of OPEC+ meeting

OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day.

Published 01 Apr, 2021 11:00am

Markets

OPEC+ panel says uncertainties may impact oil demand recovery

The producers are withholding millions of barrels of daily supply to support the market.

Published 31 Mar, 2021 01:22pm

Markets

Dollar hits one-year yen high but stocks split

App-driven food delivery company Deliveroo is meanwhile set for London's largest stock market launch in a decade with a valuation of £7.6 billion.

Published 31 Mar, 2021 10:36am

Business & Finance

UAE economy to grow 2.5pc in 2021 after shrinking 5.8pc last year

DUBAI: The United Arab Emirates economy contracted 5.8% last year but is likely to post 2.5% growth this year, the...

Published 31 Mar, 2021 05:42am

Markets

Oil falls as Suez Canal opens, dollar rallies; eyes on OPEC+ meeting

Ships were moving through the Suez Canal again a day after tugs refloated the Ever Given container carrier, which had blocked the passage for almost a week.

Updated 31 Mar, 2021 12:05am

Markets

OPEC+ to reconvene to navigate crude market volatility

Without the production cuts, limited storage capacity could be saturated and the danger of a fall in prices -- currently hovering around $60 per barrel -- is real.

Published 30 Mar, 2021 09:44am

World

Saudi Arabia unveils campaign to tackle climate change

RIYADH: Top crude exporter Saudi Arabia on Saturday unveiled a sweeping campaign to tackle climate change and reduce...

Published 30 Mar, 2021 05:45am

Markets

Oil prices drop 4pc as new lockdowns undermine hopes for economic recovery

• Traders shrug off Suez Canal incident • Big gains unlikely until OPEC meeting on April 1 NEW YORK: Oil ...

Published 26 Mar, 2021 05:22am

Markets

Sagging oil price surges 6pc as grounded ship blocks Suez Canal

The gains appeared to stabilize the market that had slumped from early this month, when prices hit their highest levels this year on expectations for demand recovery.

Updated 25 Mar, 2021 12:06am

Gainers
Losers
Leaders

Stock	Price
Dawood Equities / Apr 21 Dawood Equities Limited(DEL)	5.65 ▲ 0.60 (11.88%)
Sana Ind. (R) / Apr 21 Sana Industries (R)(SNAIR)	12.01 ▲ 1.00 (9.08%)
Bal. Glass / Apr 21 Balochistan Glass Limited(BGL)	13.00 ▲ 1.00 (8.33%)
Service Fab. / Apr 21 Service Fabrics Limited(SERF)	13.35 ▲ 1.00 (8.10%)
Service Tex. / Apr 21 Service Industries Textiles Limited(SERT)	13.61 ▲ 1.00 (7.93%)
Telecard / Apr 21 Telecard Limited(TELE)	13.87 ▲ 1.00 (7.77%)
AKD Capital Ltd / Apr 21 AKD Capital Limited(AKDCL)	451.50 ▲ 31.50 (7.50%)
Tandlianwala / Apr 21 Tandlianwala Sugar Mills Limited(TSML)	133.63 ▲ 9.32 (7.50%)
Kohi.Tex. / Apr 21 Kohinoor Textile Mills Limited(KTML)	70.61 ▲ 4.92 (7.49%)
Pak Synthetic / Apr 21 Pakistan Synthetics Limited(PSYL)	27.41 ▲ 1.91 (7.49%)

Stock	Price
First Equity Mod. / Apr 21 First Equity Modaraba(FEM)	3.34 ▲ -0.73 (-17.94%)
First Credit & Inv. / Apr 21 First Credit and Investment Bank Limited(FCIBL)	5.64 ▲ -0.87 (-13.36%)
Century Ins. / Apr 21 Century Insurance Company Limited(CENI)	18.95 ▲ -2.70 (-12.47%)
Tri-Star / Apr 21 Tri-Star Mutual Fund Limited(TSMF)	4.51 ▲ -0.49 (-9.80%)
Island Tex. / Apr 21 Island Textile Mills Limited(ILTM)	1918.45 ▲ -155.55 (-7.50%)
Mirpurkhas Sugar / Apr 21 Mirpurkhas Sugar Mills Limited(MIRKS)	94.35 ▲ -7.65 (-7.50%)
Punjab Oil / Apr 21 Punjab Oil Mills Limited(POML)	203.50 ▲ -16.50 (-7.50%)
Sapphire Tex. / Apr 21 Sapphire Textile Mills Limited(SAPT)	914.83 ▲ -74.17 (-7.50%)
Tata Textile / Apr 21 Tata Textile Mills Limited(TATM)	59.30 ▲ -4.80 (-7.49%)
Mian Textile / Apr 21 Mian Textile Industries Limited(MTIL)	18.60 ▲ -1.50 (-7.46%)

Stock	Volume
TRG Pak. / Apr 21 TRG Pakistan Limited(TRG)	46,695,449 ▼ 0.00
Worldcall / Apr 21 Worldcall Telecom Limited(WTL)	42,836,000 ▼ 0.00
Unity Foods / Apr 21 Unity Foods Limited(UNITY)	37,550,386 ▼ 0.00
Ghani Global Hold. / Apr 21 Ghani Global Holdings Limited(GGL)	31,297,500 ▼ 0.00
Telecard / Apr 21 Telecard Limited(TELE)	16,091,000 ▼ 0.00
Byco Petr. / Apr 21 Byco Petroleum Pakistan Limited(BYCO)	11,571,000 ▼ 0.00
Bal. Glass / Apr 21 Balochistan Glass Limited(BGL)	10,725,000 ▼ 0.00
Power Cement / Apr 21 Power Cement Limited(POWER)	10,568,000 ▼ 0.00
Media Times / Apr 21 Media Times Limited(MDTL)	9,277,500 ▼ 0.00
Aisha Steel / Apr 21 Aisha Steel Mills Limited(ASL)	8,211,500 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 20	153.00
USD PKR Interbank Buying / Apr 20	152.90
USD to Japanese Yen / Apr 20	108.07
USD to Swiss Franc / Apr 20	0.92
Pound Sterling to USD / Apr 20	1.39
Euro to USD / Apr 20	1.20
UK LIBOR % / Apr 20	0.07

Stock	Volume
S&P 500 / Apr 20	4134.94
India Sensex / Apr 20	47705.80
Tokyo Nikkei / Apr 20	29100.38
Nasdaq / Apr 20	13788.27
Hang Seng / Apr 20	29135.73
FTSE 100 / Apr 20	6859.87
Dow Jones / Apr 20	33821.30
Germany DAX 30 / Apr 20	15129.51
France CAC40 / Apr 20	6165.11

Item	Value
Crude Oil / Apr 20	62.67
Karachi Cotton Assoc. / Apr 20	10800.00
Gold 10 Grams / Apr 20	94564.00
Gold Spot / Apr 20	1778.40
Cotton / Apr 20	85.17

OPEC

One year on from historic sub-zero plunge oil prices recover

Oil surges to fresh 4-week highs

Oil surges as US stocks waffle on valuation fears

Goodbye oil glut thanks to OPEC+ and recovery: IEA

Oil maintains upward momentum but virus concerns cap gains

OPEC sees rising oil demand as it plans to open taps

OPEC raises 2021 oil demand growth forecast on hopes virus impact wanes

Saudi Arabia meets May crude supply for most Asian buyers

Oil prices down

Oil prices dip on mixed supply and demand outlook

Oil prices hold steady as investors weigh rising supplies, demand outlook

Crude oil – price strengthening amid turbulence

Oil prices slip after surprise hefty build in U.S. gasoline stocks

Kazakhstan exceeds OPEC+ quota in March, produces 1.475mn bpd

Oil gains over 1pc on strong US, China economic data

UAE begins commercial operations of first Arab nuclear plant

Power play: Does India really wield oil ‘weapon’?

Oil settles up over $2 despite OPEC+ production cuts

Prolonged OPEC+ output cuts will confirm bearish outlook

Oil up as OPEC+ meets to decide on production policy

Stocks rally after Biden infrastructure boost

Middle East Crude-Dubai rises ahead of OPEC+ meeting

OPEC+ panel says uncertainties may impact oil demand recovery

Dollar hits one-year yen high but stocks split

UAE economy to grow 2.5pc in 2021 after shrinking 5.8pc last year

Oil falls as Suez Canal opens, dollar rallies; eyes on OPEC+ meeting

OPEC+ to reconvene to navigate crude market volatility

Saudi Arabia unveils campaign to tackle climate change

Oil prices drop 4pc as new lockdowns undermine hopes for economic recovery

Sagging oil price surges 6pc as grounded ship blocks Suez Canal

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