Trends - Organization of the Petroleum Exporting Countries

Organization of the Petroleum Exporting Countries

OPEC sees most of 2021 oil demand recovery in H2 as COVID-19 impact lingers

"Total oil demand is foreseen to reach 96.3 million bpd with most consumption appearing in the second half," OPEC said in the report.
"This year's demand growth will not be able to compensate for the major shortfall from 2020 as mobility is forecast to remain impaired throughout 2021."

Published 11 Mar, 2021 07:21pm

Markets

Oil guzzler India says OPEC+ decision to hit economic recovery

As one of the largest crude-consuming countries, India is concerned that such actions by producing countries have the potential to undermine consumption-led recovery and more so hurt consumers, especially in our price-sensitive market.
"The decision by OPEC+ has saddened us. It is not good news for India, China, Japan, Korea and other consuming nations," Pradhan said.

Published 05 Mar, 2021 08:32pm

Markets

Oil surges $2 after OPEC+ extends output cuts

Saudi Arabia surprises with continued voluntary cuts.
OPEC+ producers keep curbs, agree only small output boost.
Decision could affect oil inventories into 2022.
Brent and WTI on track for weekly gains.

Published 05 Mar, 2021 08:28pm

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 cut oil term supply by 5% in April

Last month, ADNOC notified clients that March term supplies for Upper Zakum crude would be cut by 15%, sources said. Term supplies for other grades were reduced by 10%.

Published 02 Mar, 2021 12:26pm

Markets

India urges OPEC+ to ease output cuts to rein in oil prices

The price-sensitive Indian consumers are affected by rising petroleum product prices.
Besides hitting fuel demand, higher oil prices could potentially hinder economic growth in developing countries including India, he said.

Published 17 Feb, 2021 08:37pm

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

Global fuel prices jump as Asia, US to rev up demand in Q2

European refining margins are still lower than a year ago, but rising prices and narrowing price spreads between gasoil futures delivery months indicates a tightening market, analysts said.

Published 12 Feb, 2021 10:26am

Markets

Iran oil output faces race against time as US sanctions linger

If the sanctions are lifted, Iran's production level could exceed 4 million bpd by 2023, Rystad Energy forecast.

Published 12 Feb, 2021 09:49am

Markets

OPEC again cuts 2021 oil demand view, sees H2 pickup

Cuts 2021 oil demand growth forecast to 5.79 mln bpd.
OPEC January output rises by 180,000 bpd.
Lifts 2021 economic growth view, but sees oil demand lag.
Sees higher demand for OPEC crude and cuts shale forecast.

Published 11 Feb, 2021 07:51pm

Markets

Oil drops after strong rally, demand hopes limit losses

Asian shares rested at record highs on Thursday as investors digested recent meaty gains, though the promise of endless free money to sustain buying was reaffirmed by benign US inflation data and a very dovish outlook from the Federal Reserve.

Published 11 Feb, 2021 10:02am

Markets

Brent strikes $60/bbl as supply cuts, stimulus hopes boost prices

A weaker dollar against most currencies on Monday also supported commodities, with dollar-denominated commodities becoming more affordable to holders of other currencies.

Published 08 Feb, 2021 12:50pm

Markets

Oil set for 20% drop in 2020 as lockdowns weigh, market eyes more stimulus

In the short-term, concerns over coronavirus lockdowns are likely to cap gains.

Published 31 Dec, 2020 10:30am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 23	278.40
USD PKR Interbank Buying / Apr 23	278.10
USD to Japanese Yen / Apr 23	154.85
USD to Swiss Franc / Apr 23	0.91
Pound Sterling to USD / Apr 23	1.24
Euro to USD / Apr 23	1.07

Stock	Volume
S&P 500 / Apr 22	5010.60
Nasdaq / Apr 22	15451.31
Dow Jones / Apr 22	38239.98
India Sensex / Apr 23	73884.02
Tokyo Nikkei / Apr 23	37552.16
Hang Seng / Apr 23	16828.93
FTSE 100 / Apr 23	8045.70
Germany DAX 30 / Apr 23	17967.18

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 19	21035
Gold 10 Grams PKR / Apr 22	213220
Petrol/Litre / Apr 23	293.94
Crude Oil USD/Barrel / Apr 23	82.41
Gold Spot USD/Ounce / Apr 23	2301.86
Diesel/Litre / Apr 23	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 23 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 23 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 23 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 23 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 23 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 23 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 23 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 23 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 23 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 23 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 23 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 23 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 23 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 23 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 23 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 23 Telecard Limited(TELE)	12,358,668 ▲ 0.00

Markets →

Calculate your monthly liability in FY24

Organization of the Petroleum Exporting Countries

Most Popular