Trends - OPEC - Business Recorder

OPEC

Saudi Arabia’s strategic move?

For a long time, OPEC+ has been managing supply to keep crude price stable amid demand destruction due to Covid-19...

Published 08 Sep, 2021 07:35am

Markets

Major Gulf markets end mixed, Abu Dhabi extends weekly gains

DUBAI: Major stock markets in the Gulf ended mixed on Thursday, following an OPEC+ agreement to stick to gradual...

Published 03 Sep, 2021 04:58am

Markets

Oil drops after OPEC+ reaffirms supply return as demand wavers

TOKYO: Oil prices fell on Thursday after OPEC+ agreed to keep its policy of gradually returning supply to the market...

Updated 02 Sep, 2021 10:25am

Opinion

Oil-rich Gulf faces prospect of unlivable heat as planet warms

Gulf cities such as Dubai are known for their scorching summers, but experts warn climate change could soon make...

Published 02 Sep, 2021 04:21am

Markets

Oil steadies; OPEC+ sticks to gradual output hikes

NEW YORK: Oil prices steadied on Wednesday after OPEC and its allies agreed to stick to their existing policy of...

Published 02 Sep, 2021 04:21am

Markets

Oil climbs ahead of OPEC+ meeting, EIA data

Prices rose ahead of the OPEC+ meeting at 1500 GMT where the Organization of the Petroleum Exporting Countries (OPEC)

Published 01 Sep, 2021 11:05am

Markets

Oil falls as US refineries shut

NEW YORK: Oil fell on Tuesday, with demand expected to drop after Hurricane Ida shuttered US Gulf Coast refineries,...

Published 01 Sep, 2021 03:59am

Markets

OPEC+ body expects market to return to surplus in 2022

DUBAI/LONDON: The OPEC+ joint technical committee (JTC) expects the oil market to remain in a 0.9 million barrel per...

Published 01 Sep, 2021 03:59am

Markets

Oil up but off session highs after Ida weakens to tropical storm

NEW YORK: Oil edged higher on Monday, but remained below session highs as Hurricane Ida weakened to tropical storm...

Published 31 Aug, 2021 04:03am

Markets

Most Gulf bourses follow global shares higher

Qatar ends a three-day losing streak
Cleopatra Hospital jumps on strong Q2 results

Published 30 Aug, 2021 06:54pm

OPEC+ could reconsider output increase: Kuwait

KUWAIT: The increase in oil output agreed last month by OPEC+ nations could be reconsidered at its next meeting on...

Updated 30 Aug, 2021 06:49am

Markets

OPEC+ could reconsider output increase, says Kuwaiti oil minister

OPEC+ last year implemented a record output cut of 10 million bpd, equating to about 10% of world demand

Updated 29 Aug, 2021 07:00pm

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

Markets

Oil rises on US fuel demand, extends rally

U.S. crude inventories fell by 3 million barrels in the last week to 432.6 million barrels, the EIA said, about 1pc higher than during the same time in 2019, before the pandemic.

Published 25 Aug, 2021 11:08pm

Markets

Oil prices steady after weak Asian data

NEW YORK: Oil prices were broadly stable on Tuesday, recouping some losses incurred earlier in the session on the...

Published 18 Aug, 2021 04:00am

Markets

Oil settles lower, pares losses despite weak economic data

NEW YORK: Oil prices settled lower on Monday, paring steep losses on weak Chinese economic data after sources told...

Published 17 Aug, 2021 04:42am

Markets

Oil prices loses as OPEC+ sees no need for more supply hikes

Brent crude was down 80 cents, or 1.1pc, at $69.79 a barrel by 1:10 p.m. EDT (1710 GMT) after falling to $68.14 earlier in the sessions. U.S. oil fell by 87 cents, or 1.3pc, to $67.57 after reaching lows of $65.73.

Published 16 Aug, 2021 11:13pm

World

Venezuelan government and opposition talks open in Mexico City

MEXICO CITY: Representatives of the Venezuelan government and the opposition began a round of talks on Friday in...

Published 15 Aug, 2021 04:47am

Opinion

Peak OPEC? Climate-focused production shift to pile pressure on pact

Moves to mitigate climate change are drawing peak oil demand closer, current and former OPEC officials told Reuters,...

Published 12 Aug, 2021 04:34am

Markets

Oil rebounds after White House says not calling for US output hike

NEW YORK: Oil gained Wednesday, changing course after the Biden administration said it would not call on US ...

Published 12 Aug, 2021 04:34am

Markets

US calls on OPEC and its allies to increase oil production

At a critical moment in the global recovery, this is simply not enough
"Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery."

Published 11 Aug, 2021 05:21pm

Markets

Oil falls over 3pc on concerns over demand and OPEC supply boost

NEW YORK: Oil prices fell more than 3% on Monday after weak economic data from China and the United States, the...

Published 03 Aug, 2021 04:35am

BR Research

Opec deal to soothe oil prices

The fears surrounding Opec’s gridlock proved short-lived once again, as the cartel emerged rather unscathed from...

Published 26 Jul, 2021 07:35am

Markets

Oil firms after slide but COVID-19 and supply concerns remain

US crude inventories expected to fall again
Oil slumped on Monday amid rising COVID-19 cases
OPEC+ deal to boost oil supply adds pressure

Published 20 Jul, 2021 06:02pm

Markets

Oil falls $2 after OPEC+ producers agree to raise output

Brent crude was down $1.92, or 2.6%, at $71.67 a barrel
"Longer-term, free and additional production capacities from OPEC+ countries are the key reason why we see oil moving lower again"

Published 19 Jul, 2021 04:32pm

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

OPEC+ plans new output policy meeting today

MOSCOW/DUBAI: OPEC+ ministers plan to hold their next meeting on Sunday to decide on output policy, three sources...

Published 18 Jul, 2021 05:58am

Markets

Asia’s naphtha, gasoline cracks rise

SINGAPORE: Asia’s naphtha and gasoline crack gained on Friday as demand remained steady. The naphtha crack was...

Published 17 Jul, 2021 04:21am

Markets

World shares steady, US yields hover near lows ahead of fresh data

MSCI World index holds ground; Europe shares open higher
US T-bill yields edge off lows; gold down
Oil heads for biggest weekly drop since at least May

Published 16 Jul, 2021 02:14pm

Markets

Oil heads for biggest weekly drop since March as supply worries mount

Brent crude for September was down 2 cents at $73.45 a barrel by 0338 GMT and is heading for a 3% fall this week after two days of heavy declines.

Published 16 Jul, 2021 10:28am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 19	278.45
USD PKR Interbank Buying / Apr 19	278.15
USD to Japanese Yen / Apr 19	154.37
USD to Swiss Franc / Apr 19	0.91
Pound Sterling to USD / Apr 19	1.24
Euro to USD / Apr 19	1.06

Stock	Volume
S&P 500 / Apr 18	5011.12
Nasdaq / Apr 18	15601.50
FTSE 100 / Apr 18	7877.05
Dow Jones / Apr 18	37775.38
Germany DAX 30 / Apr 18	17837.40
France CAC40 / Apr 18	8023.26
India Sensex / Apr 19	72222.48
Tokyo Nikkei / Apr 19	37068.35

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 18	21735
Gold 10 Grams PKR / Apr 18	214077
Petrol/Litre / Apr 19	293.94
Crude Oil USD/Barrel / Apr 19	84.27
Gold Spot USD/Ounce / Apr 19	2382.04
Diesel/Litre / Apr 19	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 19 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 19 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 19 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 19 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 19 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 19 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 19 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 19 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 19 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 19 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 19 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 19 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 19 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 19 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 19 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 19 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 19 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 19 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 19 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 19 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 19 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 19 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 19 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 19 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 19 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 19 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 19 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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