Economy Middle East

Oil

Oil prices surge above $90, reaching highest level since October
Markets

Oil prices surge above $90, reaching highest level since October

The rise in prices is fueled by geopolitical tension and supply concerns

Oil prices hit highest level in five months, approach $90 as OPEC output remains steady
Markets

Oil prices hit highest level in five months, approach $90 as OPEC output remains steady

Mixed U.S. inventories impact crude oil gains, production offset by fuel demand

Oil prices stabilize amid concerns over supply disruptions
Markets

Oil prices stabilize amid concerns over supply disruptions

Concerns arose from attacks on Russian refineries and potential conflict escalation in the Middle East

OPEC oil output dips in March amid voluntary cuts and export challenges
Energy

OPEC oil output dips in March amid voluntary cuts and export challenges

Iraq and Nigeria lead reductions, maintaining OPEC's commitment to supply restraint

Oil prices surge on positive economic outlook, geopolitical concerns
Energy

Oil prices surge on positive economic outlook, geopolitical concerns

China and U.S. demand boost prices amid Middle East conflict

Oman outlook raised to positive on strengthening fiscal position: Report
Economy

Oman outlook raised to positive on strengthening fiscal position: Report

Oil production cuts to keep economic growth low at about 1.4 percent in 2024

OPEC Secretary General predicts persistent global demand for oil in the coming decades
Markets

OPEC Secretary General predicts persistent global demand for oil in the coming decades

OPEC believes that the oil industry will need approximately $11.1 trillion by 2045

Oil prices rise as tighter supplies drive strong first quarter in 2024
Markets

Oil prices rise as tighter supplies drive strong first quarter in 2024

Russia's commitment to deeper production cuts as a key factor influencing the crude oil market in the coming months

UAE’s ADNOC starts crude oil extraction from Belbazem offshore block
Energy

UAE’s ADNOC starts crude oil extraction from Belbazem offshore block

Belbazem offshore block's production capacity set to increase: 45,000 bpd of crude oil and 27 million mmscfd of gas

Saudi Arabia’s ADES Holding inks two agreements for oil exploration and production in Egypt’s Gulf of Suez
Energy

Saudi Arabia’s ADES Holding inks two agreements for oil exploration and production in Egypt’s Gulf of Suez

For FY 2023/2024, Egypt has raised its projected total investments in oil and natural gas to $5.79 billion

Oil prices slide for second consecutive day as U.S. stockpiles surge
Markets

Oil prices slide for second consecutive day as U.S. stockpiles surge

Market concerns rise as major producers hold output policy steady

OPEC Secretary General: Oil industry calls for $11.1 trillion in investments by 2045
Energy

OPEC Secretary General: Oil industry calls for $11.1 trillion in investments by 2045

Al Ghais highlighted OPEC’s role in addressing global issues like climate change, energy transition