Oil

Oil prices hover near multi-month lows, poised for weekly decline on rate hike concerns

Brent crude oil futures for July delivery fell 0.1 percent to $81.31 per barrel

Saudi Arabia’s non-oil exports rise 3.3 percent to $18.6 billion in Q1 2024

The total value of commodity exports stood at $77.77 billion

Sharjah’s GDP surges 6.5 percent to $39.5 billion in 2023

Non-oil sectors also saw a significant 7.1 percent increase, reaching $38.79 billion in 2023

Oil prices dip amid concerns over prolonged high U.S. rates, weaker demand

Brent crude oil futures expiring in July declined 0.7 percent to $81.35 per barrel

Oil prices continue downward slide amid rising U.S. stockpiles, jitters over interest rate hikes

Brent crude oil futures expiring in July slid 0.6 percent to $82.40 per barrel

Saudi Arabia’s crude oil exports hit 9-month high, reaching 6.413 million bpd in March

Data also showed that Saudi refineries' crude throughput fell in March by 0.115 million bpd to 2.560 million bpd

Oil prices dip amid fears on U.S. inflation, higher interest rates dampening demand

Brent crude futures fell 44 cents, or 0.53 percent, to $83.27 a barrel

Qatar’s industrial production index reaches 100.2 points in March 2024, increasing by 4.7 percent

Data showed a 4.8 percent increase in the mining sector compared to February 2024

Qatar announces $549.2 million budget surplus for Q1 2024

MoF stated that this surplus was directed towards reducing public debt, and therefore there was no cash surplus

UAE’s ADNOC Drilling secures $1.69 billion contract to develop 144 unconventional wells

To service the contract and explore future opportunities, ADNOC Drilling has incorporated Turnwell Industries

Oil prices edge higher ahead of Fed cues, improving demand

Brent oil futures expiring in July rose 0.3 percent to $84.19 per barrel

Moody’s affirms Kuwait A1 rating, stable outlook

Solid budget and financial buffers, but reforms needed to reduce oil dependence