Oil

Kuwait’s GDP falls 4.4 percent in Q4 2023 on oil sector contraction: Report

Kuwait maintained crude oil production at 2.55 million barrels per day in line with its OPEC+ production cut obligations

Oil prices rise on softer U.S. inflation, summer demand hopes

Brent oil futures for September delivery rose 0.1 percent to $85.52 per barrel

Oil prices rise on weaker dollar, tighter supply bets ahead of CPI data

Brent Oil Futures expiring in September rose 0.7 percent to $85.74 a barrel

Sheikh Khaled witnesses signing ceremony for international partners joining ADNOC’s Ruwais LNG project

His Highness met with heads of global energy companies to discuss the future of the sector

Egypt approves $200 million in energy projects with foreign, national companies

Agreements include a deal to search for and exploit gas and crude oil in the North Port Fouad offshore area in the Mediterranean

Oil prices stabilize as market monitors tropical storm Beryl, geopolitical developments

Brent oil futures for September delivery hovered around $85.72 per barrel

Oman’s Q1 2024 GDP rises to $27.15 billion driven by non-oil sector growth

This growth was driven by a surge in non-oil activities, which recorded a value of OMR7.18 billion

Oil prices steady amid storm threat and demand concerns

Brent crude futures for September delivery edged up 0.2 percent to $86.67 per barrel

Oil prices hold steady, on track for fourth straight week of gains as strong summer demand and supply concerns buoy market

Brent crude futures, which have risen 7 percent over the past four weeks, dipped slightly by 2 cents to $87.41 per barrel

Oil prices slide as weak U.S. economic data raises demand concerns

Brent crude futures were down 48 cents, or 0.55 percent, at $86.86 a barrel

UAE’s ADNOC Drilling awarded $733 million contract for three AI-powered island rigs

These new rigs will support the growing operations at the offshore Zakum field

Oil prices hold near two-month high as inventory draw offsets hurricane worries, dollar weakness

Brent crude futures for September delivery rose 0.2 percent to $86.41 per barrel

Saudi Arabia uncovers seven new oil and natural gas discoveries in Eastern Province, Empty Quarter

In the Eastern Province, two unconventional oil fields were found - Al-Ladam and Al-Farouq

Oil prices rise as demand optimism builds ahead of U.S. inventory report

Brent crude futures rose 2 percent to $86.41 per barrel

Oil prices surge amid weaker dollar, rate cut bets

Brent oil futures for September delivery increased 0.3 percent to $85.29 per barrel

Oil prices surge on fears of disruptions in Russia and Middle East, defying inventory build

Brent oil futures expiring in August rose 0.4 percent to $86.73 a barrel

Saudi Aramco emerges as world’s largest oil company with 259 billion barrels of reserves

The Saudi oil giant produced an average of 12.8 million barrels of oil per day in 2023

Oil prices fall amid dollar strength; U.S. inventory build spurs demand fears

Brent oil futures for August delivery dropped 0.4 percent to $84.91 per barrel

Oil prices dip amid lingering demand concerns, U.S. inventory build

Brent oil futures expiring in August fell 0.1 percent to $84.90 per barrel

ADNOC Drilling’s new dividend policy to channel $4.79 billion to shareholders by 2028

The expected cumulative minimum yield from this new dividend policy during the 2024-2028 period is more than 27 percent

Oil prices edge higher on hopes of summer demand surge, potential supply disruptions

Brent crude oil futures for August delivery rose 0.1 percent to $86.07 per barrel,

GCC’s 2024 growth forecast lowered to 2.2 percent on extended oil output cuts

ICAEW has also lowered its 2024 inflation forecast for the GCC region to 2.2 percent this year and 2.1 percent next year

Oil prices dip as dollar rises, investors await key inflation data

Brent oil futures expiring in August fell 0.4 percent to $84.88 a barrel