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Coronavirus
VERY HIGH
Pakistan Deaths
18,797
12024hr
Pakistan Cases
854,240
410924hr
Sindh
290,756
Punjab
316,334
Balochistan
23,186
Islamabad
77,684
KPK
123,150

OPEC

OPEC president says oil market rebalancing, pandemic still a risk
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
UAE's ADNOC to ease oil supply cuts in April
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
Oil down over 1pc
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
Zaki Yamani dies
Print

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
Oil hits 13-month highs as market re-balances
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
Oil edges higher but demand fears set in
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
Oil on the boil, stocks and bonds toil
Markets

Oil on the boil, stocks and bonds toil

  • World shares drop after 3-day gains, retail frenzy slows.
  • Oil at 1-year high on OPEC+ output cut.
  • Benchmark bond yields rising, curves steepening.
  • Volatility index falls to regular levels.
  • Stealth China policy tightening in focus.
Published 04 Feb, 2021 05:44pm