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Oil
Economy
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
Markets
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
Markets
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
Energy
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
Economy
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
Markets
Oil prices rise on larger-than-expected U.S. inventory draw, offsetting distillate stockpile build
Brent crude futures rose 0.2 percent to $84.84 per barrel
Markets
Oil prices stabilize as market monitors tropical storm Beryl, geopolitical developments
Brent oil futures for September delivery hovered around $85.72 per barrel
Economy
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
Markets
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
Markets
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
Markets
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
Energy
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
Markets
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
Energy
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
Markets
Oil prices rise as demand optimism builds ahead of U.S. inventory report
Brent crude futures rose 2 percent to $86.41 per barrel
Markets
Oil prices surge amid weaker dollar, rate cut bets
Brent oil futures for September delivery increased 0.3 percent to $85.29 per barrel
Markets
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
Energy
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
Markets
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
Markets
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
Banking & Finance
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
Markets
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,
Economy
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
Markets
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
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