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Oil
Markets
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
Logistics
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
Economy
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
Markets
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
Markets
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
Energy
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
Markets
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
Industry
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
Banking & Finance
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
Energy
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
Markets
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
Economy
Moody’s affirms Kuwait A1 rating, stable outlook
Solid budget and financial buffers, but reforms needed to reduce oil dependence
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