Trends - OPEC - Business Recorder

OPEC

OPEC chief sees oil market moving closer to balance before key meeting

OPEC+ panel meets Wednesday to review supply cut.
Producers not expected to extend supply cuts at same level.
Saudi oil exports in Aug to stay at July level.

Published 13 Jul, 2020 08:42pm

Markets

Saudi oil exports in Aug to stay at July level –sources

Saudi Arabia often burns more oil - estimated at about 550,000 barrels per day (bpd) - during the hot summer months for power generation.
This summer the demand for oil burning is set to rise more than last year due to COVID-19 movement restrictions which have forced millions of people to stay home.

Published 13 Jul, 2020 06:26pm

Markets

Oil steady as coronavirus fears offset gasoline recovery signs

Mixed evidence on gasoline demand revival.
Concerns over record surge in US COVID-19 cases.
OPEC+ monitoring panel meets next week.

Published 09 Jul, 2020 05:27pm

Markets

Angola agrees to comply fully with oil cuts after OPEC pressure

The Organization of the Petroleum Exporting Countries and allies led by Russia, a group known as OPEC+.
The record cuts are now due to run to the end of July, before tapering to 7.7 million bpd until December.

Published 07 Jul, 2020 05:27pm

Markets

Angola resists OPEC pressure to comply fully with oil cuts

Saudi Arabia has been pressing laggards such as Iraq, Kazakhstan, Nigeria and Angola to improve compliance with the cuts and compensate.
It trimmed production to 1.24 million bpd in June, based on a Reuters survey, 60,000 bpd above its target.

Published 02 Jul, 2020 04:43pm

Markets

OPEC has cut oil output by 1.25 mbpd in June, says Petro-Logistics

OPEC and its allies, a group known as OPEC+, agreed to cut supply by a record 9.7 million bpd from May 1 to offset an oil price and demand slump triggered by the coronavirus crisis.
Excluding Iran, Libya and Venezuela, which are not part of the curtailment agreemen.

Published 29 Jun, 2020 07:45pm

Business & Finance

Oil prices stable ahead of OPEC+ meeting

US West Texas Intermediate (WTI) crude futures dropped 14 cents to $37.82 a barrel.

Published 18 Jun, 2020 06:17pm

Markets

OPEC throttles output in May

In the latest monthly report by the Organization of Petroleum Exporting Countries, data showed that the cartel's 13 member states throttled output by 6.2 million barrels per day (bpd) last month.

Published 17 Jun, 2020 08:01pm

Markets

Iraq is fully committed to the OPEC+ cut deal

OPEC, Russia and other producers agreed on Saturday to extend record output cuts of 9.7 million barrels per day into July.
Abdul Jabbar said his country is fully committed to cut its production in June and July in compliance with the OPEC+ deal.

Published 09 Jun, 2020 02:40am

Markets

Oil falls 3% despite OPEC+ cuts as Gulf ends voluntary curbs

OPEC+ cuts extended to end-July.
Saudi Arabia, UAE and Kuwait to halt additional cuts.
China's May crude imports hit record 11.3 mln bpd.
OPEC+ cuts for May and June.

Published 09 Jun, 2020 01:45am

Markets

OPEC, allies agree to extend deep output cuts through July

Oil prices have plummeted as a result of falling demand as countries around the world impose strict lockdowns to stop the spread of the new coronavirus.

Updated 07 Jun, 2020 12:59pm

Markets

OPEC, Russia extend record oil cuts to end of July

Iraq, Nigeria agree to deeper production cuts.
Oil prices have doubled since diving below $20 in April.
Saudi, Russia keen to avoid new US shale oil spike.

Published 07 Jun, 2020 12:52am

Business & Finance

Oil tops $40 on OPEC cuts and demand recovery

Suggesting a supply glut is easing, the American Petroleum Institute on Tuesday said that U.S. crude inventories fell by 483,000 barrels.
Both benchmarks have surged in recent weeks, with Brent more than doubling after hitting a 21-year low below $

Published 03 Jun, 2020 03:16pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	158.33
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 26	5099.96
India Sensex / Apr 26	73730.16
Tokyo Nikkei / Apr 26	37934.76
Nasdaq / Apr 26	15927.90
Hang Seng / Apr 26	17651.15
FTSE 100 / Apr 26	8139.83
Dow Jones / Apr 26	38239.66
Germany DAX 30 / Apr 26	18161.01

Item	Value
Crude Oil USD/Barrel / Apr 26	83.85
Karachi Cotton PKR/37.32 KG / Apr 26	20535
Gold 10 Grams PKR / Apr 26	210048
Gold Spot USD/Ounce / Apr 26	2337.96
Cotton US¢/pound / Apr 26	80.90
Petrol/Litre / Apr 27	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 27 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 27 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 27 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 27 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 27 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 27 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 27 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 27 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 27 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 27 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 27 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 27 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 27 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 27 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 27 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 27 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 27 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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