Trends - OPEC - Business Recorder

OPEC

Dubai bourse leads most of Gulf lower

DUBAI: Stock markets in Dubai and Qatar ended lower on Thursday, hit by blue-chip shares trading ex-dividend, while...

Published 05 Mar, 2021 05:17am

Markets

Major Gulf markets ease in early trade; Qatar gains

Qatar's benchmark index edged up 0.1%, helped by its banking shares, with the Gulf's largest lender Qatar National Bank rising 1.2%.

Published 04 Mar, 2021 02:09pm

Markets

OPEC+ set to boost oil output as demand, prices rebound

The world's second-largest crude producer after the United States, Russia "leans for caution", Schieldrop explained, while number three, Saudi Arabia, "defends the increase in supply".

Published 04 Mar, 2021 11:23am

Markets

Property shares lift Dubai bourse, Saudi strong ahead of OPEC+ meet

Emaar Malls sees biggest intraday gain in 4 months.
OPEC sees positive oil market outlook.
Qatar Gas Transport trades ex-dividend.

Published 03 Mar, 2021 08:00pm

Markets

European stocks jump; London wins pre-budget boost

Frankfurt and Paris stocks won 0.9 percent and 0.8 percent respectively at midday in the eurozone.

Published 03 Mar, 2021 05:04pm

Markets

OPEC sees positive oil market outlook, but downside risks persist

LONDON: OPEC sees a generally positive oil market outlook with last year’s uncertainty easing, but downside risks...

Published 03 Mar, 2021 05:49am

Markets

OPEC president says oil market rebalancing, pandemic still a risk

"Crude prices are relatively stable ... we see a certain balance between demand and supply," OPEC president Diamantino Azevedo told.
"The production levels that were desirable at the time of the latest adjustment could naturally be affected downward due to ... the COVID-19 pandemic and its variants," he added.

Published 02 Mar, 2021 08:03pm

Markets

UAE's ADNOC to ease oil supply cuts in April

Having cut its March term supply nominations by 10-15%, national oil company ADNOC plans to reduce the cuts to 5% next month, the sources said.
OPEC+ sources told Reuters a 500,000 barrels per day (bpd) increase from April looked possible without building up inventories.

Published 02 Mar, 2021 06:21pm

Markets

Oil slides 1% on fears over higher OPEC supply, slower China demand

Market sentiment was also dampened by weak manufacturing data out of China, Kikukawa said.

Published 02 Mar, 2021 01:33pm

Markets

Russia's February oil output falls despite plans to raise it

The reason behind the fall was not immediately clear.

Published 02 Mar, 2021 12:33pm

Markets

As oil prices rally, old OPEC tensions set to rise

OPEC kingpin Saudi Arabia has in recent times been willing to take on extra production cuts to facilitate agreement.

Published 02 Mar, 2021 10:58am

Markets

Algeria foreign exchange reserves fall to $42 billion

The North African country uses its reserves to pay for imports of goods and services, estimated annually at $45 billion.

Published 02 Mar, 2021 09:53am

Markets

Oil down over 1pc

NEW YORK: Oil prices fell more than 1% on Monday as fears that Chinese oil crude consumption is slowing and that ...

Published 02 Mar, 2021 05:50am

Markets

Oil prices drop amid US dollar strength, expectations for supply gains

"The market's probably right to think at this price level and given what the fundamentals are doing, there'll be more supply coming into the market over time."

Published 26 Feb, 2021 12:17pm

BR Research

Oil bulls take centerstage

Crude oil at $100/bbl may well have been out of sight for quite a while but is definitely not out of mind. In the...

Published 26 Feb, 2021 07:25am

Zaki Yamani dies

RIYADH: Former Saudi oil minister Sheikh Ahmed Zaki Yamani, a key player behind the 1973 oil embargo, died Tuesday...

Updated 24 Feb, 2021 09:39am

Markets

OPEC, US oil firms expect subdued shale rebound even as crude prices rise

"As long as operators have sufficient drilled but unfracked well inventory to complete, they should be able to easily grow production while keeping capex in check," the bank said, using a term for drilling spending.

Published 22 Feb, 2021 11:33am

Markets

Kuwait plans to shorten oil supply deals for some Asian buyers

Mangalore Refinery and Petrochemicals was another Indian refiner looking to boost contract volumes, seeking a 14% uplift to 40,000 bpd while raising optional purchase volumes to 15,000 bpd from 10,000 bpd in 2020/21.

Published 18 Feb, 2021 12:56pm

Markets

Kuwait plans to shorten oil supply deals for some Asian buyers

NEW DELHI: Oil producer Kuwait Petroleum Corp (KPC) is in talks to shorten its annual supply deals with some...

Published 18 Feb, 2021 04:08am

Markets

Oil hits 13-month highs as market rebalances

LONDON: Oil prices soared to their highest in about 13 months on Monday as vaccine rollouts promised to revive ...

Published 16 Feb, 2021 04:07am

Markets

Oil hits 13-month highs as market re-balances

Prices rally as producers rein in supply.
Brent, WTI hit highest levels since January 2020.
US stimulus hopes, tighter supplies support rally.
Possible strike could hit Norway's crude production.

Published 15 Feb, 2021 07:12pm

Markets

Asian fuel oil margin hits 1-year high

SINGAPORE: Supported by shrinking supplies and firm demand, Asian refiners’ profit from producing very low sulphur...

Published 14 Feb, 2021 03:49am

Markets

Oil moves up on US stimulus hopes but demand fears persist

• Brent, US crude on track for weekly gains NEW YORK: Oil prices edged higher on Friday, buoyed by hopes for a US...

Published 13 Feb, 2021 04:11am

Markets

Oil edges higher but demand fears set in

Brent crude was up 29 cents, or 0.5%, at $61.43 a barrel.
Prices have risen over recent weeks partly owing to oil production cuts from the Organization of the Petroleum Exporting Countries (OPEC) and other producers in the group known as OPEC+.

Published 12 Feb, 2021 09:02pm

Markets

Oil extends losses after gloomier outlooks from OPEC, IEA

US crude inventories dropped unexpectedly last week, declining by more than 6 million barrels as refiners increased output to pre-pandemic levels, according to the Energy Information Administration.

Updated 12 Feb, 2021 11:49pm

Markets

Oil's losses deepen as OPEC, IEA caution ends rally

US crude inventories dropped unexpectedly last week, declining by more than 6 million barrels as refiners increased output to pre-pandemic levels, according to the Energy Information Administration.

Published 12 Feb, 2021 10:33am

Markets

Oil eases as OPEC, IEA fret about demand

• Brent eases after tying record 9 sessions of gains • WTI eight-day rally also ends • OPEC again cuts 2021...

Updated 12 Feb, 2021 11:47pm

Markets

Asian fuel oil margin hits 1-year high, supply tightness to persist in 2021

VLSFO has posted the highest average margin among refined products in 2020 and so far in 2021, according to data on Refinitiv Eikon.

Published 11 Feb, 2021 12:33pm

Markets

Oil extends rally to fresh 13-mth highs

NEW YORK: Oil prices extended their rally for a seventh session on Tuesday to hit fresh 13-month highs, supported by...

Published 10 Feb, 2021 04:12am

Markets

Saudi leads most Gulf markets higher

DUBAI: Most Gulf stocks closed higher on Sunday following Friday’s rise in global equities and a jump in oil...

Published 08 Feb, 2021 03:46am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 8	278.28
USD PKR Interbank Buying / May 8	278.03
USD to Japanese Yen / May 8	155.25
USD to Swiss Franc / May 8	0.91
Pound Sterling to USD / May 8	1.25
Euro to USD / May 8	1.07

Stock	Volume
S&P 500 / May 7	5187.70
Nasdaq / May 7	16332.56
Dow Jones / May 7	38884.26
India Sensex / May 8	73566.30
Tokyo Nikkei / May 8	38202.37
Hang Seng / May 8	18325.35
FTSE 100 / May 8	8354.28
Germany DAX 30 / May 8	18528.77

Item	Value
Karachi Cotton PKR/37.32 KG / May 7	19935
Crude Oil USD/Barrel / May 8	77.89
Gold 10 Grams PKR / May 8	205075
Gold Spot USD/Ounce / May 8	2314.41
Cotton US¢/pound / May 8	77.79
Petrol/Litre / May 9	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 9 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 9 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 9 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 9 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 9 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 9 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 9 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 9 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 9 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 9 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 9 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 9 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 9 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 9 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 9 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 9 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 9 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 9 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 9 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 9 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 9 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 9 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 9 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 9 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 9 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 9 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 9 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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