Trends - OPEC - Business Recorder

OPEC

Oil demand drops as virus surges: IEA

PARIS: Oil demand dropped last month as the coronavirus surged in India and elsewhere, the IEA said Wednesday, in a...

Published 13 May, 2021 03:10am

Markets

Oil prices rise on nagging fears of fuel shortages

NEW YORK: Oil prices settled higher on Tuesday, as lingering fears of gasoline shortages due to an outage at the...

Published 12 May, 2021 04:23am

Markets

Asia gasoline, naphtha cracks edge lower despite weaker crude

SINGAPORE: Asia’s gasoline and naphtha cracks both edged lower on Monday, reversing an upward trend seen ...

Published 04 May, 2021 04:26am

Markets

OPEC’s share of Indian oil imports plunges

NEW DELHI: OPEC’s share of India’s oil imports fell to the lowest in at least two decades in the year to the end...

Published 04 May, 2021 04:26am

Markets

Oil drops towards $66 as India demand concerns weigh

In another development that could allow a further boost in Iranian supply, Tehran and world powers are holding talks to revive the 2015 nuclear deal.

Published 03 May, 2021 01:38pm

Markets

Oil prices rise despite OPEC+ sticking to raising output

NEW YORK: Oil prices edged higher on Tuesday as OPEC, Russia and their allies will stick to plans to raise output...

Published 28 Apr, 2021 03:18am

Markets

Oil rises to $66 ahead of OPEC+ meeting, India weighs

OPEC+ brings forward monitoring meeting to Tuesday.
India's total COVID-19 deaths near 200,000.
Iran nuclear talks due to resume on Tuesday.
Coming up: API oil inventory report, 2030 GMT.

Published 27 Apr, 2021 06:52pm

Markets

Oil falls on India’s Covid surge; OPEC+ limits drop

NEW YORK: Oil pared its losses on Monday as the Organization of the Petroleum Exporting Countries and its allies...

Published 27 Apr, 2021 03:02am

Business & Finance

OPEC+ keeps oil demand forecast, but worried by COVID surge

In its most recent monthly oil market report, the Organization of the Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand growth by 70,000 barrels per day (bpd) to 5.95 million bpd.
The JTC meeting also expressed concern about rising COVID-19 cases in India, Japan and Brazil, the sources added.

Published 26 Apr, 2021 08:38pm

Markets

Stocks trade mixed before Fed meeting, earnings

The dollar largely struggled before the Fed's rate decision Wednesday.

Published 26 Apr, 2021 06:40pm

Business & Finance

OPEC urges members to lobby against US NOPEC bill and outline risks

"These disadvantages might include: weakening the immunity principle at a global level, putting at risk US interests overseas, and the protection for their personnel and assets," the letter said.
Barkindo said "several prominent US economic actors" had expressed reservations about the NOPEC bill, including the US Chamber of Commerce.

Published 23 Apr, 2021 05:46pm

Markets

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

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 30	278.40
USD PKR Interbank Buying / Apr 30	278.20
USD to Japanese Yen / May 1	155.98
USD to Swiss Franc / May 1	0.92
Pound Sterling to USD / May 1	1.25
Euro to USD / May 1	1.07

Stock	Volume
S&P 500 / May 1	5018.39
India Sensex / May 1	74482.78
Tokyo Nikkei / May 1	38093.34
Nasdaq / May 1	15605.48
Hang Seng / May 1	17763.03
FTSE 100 / May 1	8121.24
Dow Jones / May 1	37903.29
Germany DAX 30 / May 1	17932.17

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 30	20535
Gold 10 Grams PKR / Apr 30	207390
Crude Oil USD/Barrel / May 1	79.18
Gold Spot USD/Ounce / May 1	2324.96
Cotton US¢/pound / May 1	76.51
Petrol/Litre / May 2	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 2 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 2 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 2 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 2 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 2 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 2 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 2 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 2 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 2 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 2 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 2 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 2 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 2 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 2 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 2 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 2 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 2 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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