Tag archive for ‘oil’
By Staff writer On Tuesday, January 12th, 2016
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QNB Expects Oil Prices in 2016 at $44

Qatar National Bank’s (QNB) weekly report forecast that the average price of oil for 2016 will be $44. The conclusion, the bank said in a statement, was one of three likely scenarios they plotted for 2016. More...

By Staff writer On Thursday, January 7th, 2016
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OPEC daily basket price

The price of OPEC’s basket of thirteen crudes stood at US$31.79 a barrel on Monday, compared with $31.27 the previous Thursday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes More...

By Staff writer On Tuesday, January 5th, 2016
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OPEC daily basket price

The price of OPEC’s basket of twelve crudes stood at US$31.26 a barrel on Thursday, compared with $31.54 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) More...

By Staff writer On Wednesday, December 30th, 2015
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OPEC daily basket price

The price of OPEC’s basket of twelve crudes stood at US$31.71 a barrel on Monday, compared with $32.17 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) More...

By Staff writer On Tuesday, December 29th, 2015
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OPEC daily basket price

The price of OPEC’s basket of twelve crudes stood at US$32.14 a barrel on Thursday, compared with $31.25 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) More...

By Staff writer On Friday, December 25th, 2015
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oil will remain central to the global energy mix over the next 25 years

Penetration of alternative fuel vehicles will increase in the next decades but will remain at low levels: By 2040, only 6% of the passenger car stock and 5.3% of commercial vehicles will be running on non-oil fuels. More...

By Staff writer On Friday, December 18th, 2015
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OPEC daily basket price

The price of OPEC’s basket of twelve crudes stood at US$32.33 a barrel on Wednesday, compared with $32.61 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) More...

By Staff writer On Wednesday, December 16th, 2015
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OPEC daily basket price

The price of OPEC’s basket of twelve crudes stood at US$32.60 a barrel on Monday, compared with US$33.76 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes More...

By Staff writer On Tuesday, December 15th, 2015
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OPEC daily basket price

The price of OPEC’s basket of twelve crudes stood at US$33.76 a barrel on Friday, compared with US$34.69 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) More...

By Staff writer On Friday, December 11th, 2015
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OPEC Monthly Oil Market Report for December 2015

The OPEC Reference Basket declined by around 10% in November as lower refinery crude intake added to the oversupply in the market, according to OPEC Monthly Oil Market Report for December 2015. The Basket lost $4.52 More...

By Staff writer On Tuesday, December 8th, 2015
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OPEC daily basket price

The price of OPEC’s basket of twelve crudes stood at US$38.08 a barrel on Friday, compared with US$37.89 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) More...

By Staff writer On Friday, December 4th, 2015
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Energy and Industry Minister Leaves for Vienna to Attend OPEC Meeting

HE Minister of Energy and Industry Dr. Mohammed bin Saleh Al Sada has left for the Austrian capital, Vienna, to attend the 168th meeting of the Organization of Petroleum Exporting Countries (OPEC) which will be More...

By Staff writer On Wednesday, December 2nd, 2015
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OPEC daily basket price

The price of OPEC’s basket of twelve crudes stood at US$38.93 a barrel on Monday, compared with US$39.08 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes More...

By Staff Writer On Wednesday, December 2nd, 2015
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Solar in the land of “black gold”

Following the launch of the UAE’s Clean Energy 2050 plan the UAE is going to be key to the International Energy Agency’s (IEA) goal of satisfying up to a third of global power demand with renewables by 2060, More...

By Staff writer On Monday, November 30th, 2015
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Maersk Oil Celebrates First Graduates From Qatari Development Programme

A group of 14 young Qatari professionals at Maersk Oil Qatar have become the first graduates of its Qatari Development Programme (QDP). The bespoke two-year rotational programme is designed to support Qataris in More...

By Staff writer On Thursday, November 26th, 2015
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Dubai Crude Oil Price for February

The Department of Oil Affairs in the Government of Dubai has announced that it has notified its customers that the official price of Dubai crude oil for delivery next February will be US$0.50 less than the average More...

By Staff writer On Wednesday, November 25th, 2015
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World oil price slump temporary

The current slump in world oil prices is temporary and can’t last for a long time, Dr. Matar Al Neyadi, Under-Secretary, Ministry of Energy of the United Arab Emirates, affirmed today at an international conference More...

By Staff writer On Tuesday, November 24th, 2015
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OPEC daily basket prices

The price of OPEC’s basket of twelve crudes stood at US$38.37 dollars a barrel on Friday, compared with US$38.52 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket More...

By Staff writer On Monday, November 23rd, 2015
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Maersk Qatar Pushes Qatarization Drive

Maersk Oil Qatar (MOQ) has launched the latest phase of its recruitment campaign to showcase employment opportunities to Qataris. The country’s largest offshore oil producer said the programme titled ‘Find More...

By Staff writer On Thursday, November 19th, 2015
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OPEC daily basket price

The price of OPEC’s basket of twelve crudes stood at US$38.29 a barrel on Tuesday, compared with US$38.18 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) More...

By Staff writer On Monday, November 16th, 2015
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GCC petchem exports to China continue to rise, despite waning demand

The slowdown of the Chinese economy has not stopped GCC petrochemical producers to continue to grow their exports to China during 2014. Data from the Gulf Petrochemicals and Chemicals Association (GPCA) shows that More...

By Staff Writer On Friday, November 13th, 2015
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The economist view from Euler Hermes

Speaking at the 2015 International Trade Observatory summit in Dubai, Ludovic Subran, Euler Hermes chief economist, urged delegates to speak to an economist, before forming an opinion on the news stories. On behalf More...

By Staff writer On Thursday, November 12th, 2015
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ADIPEC to reinforce GCC oil cooperation

ADIPEC The Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC, will reinforce cooperation within oil and gas industries amongst GCC nations, according to Dr. Jamal Ja’faar, Deputy Chief Executive More...

By Staff writer On Monday, November 9th, 2015
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Energy Minister: ”UAE committed to ensuring stable global crude supplies”

Suhail Al Mazrouei, UAE minister of energy  The UAE Minister of Energy, Suhail Al Mazrouei, on Sunday stressed that the UAE continues to carry out its plans to increase crude production to contribute towards stabilizing More...

By Staff writer On Sunday, November 8th, 2015
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OPEC daily basket price

The price of OPEC basket of twelve crudes stood at 43.28 dollars a barrel on Thursday, compared with $44.43 the previous day, according to OPEC Secretariat calculations. (View Archives) The new OPEC Reference Basket More...

By Staff writer On Saturday, November 7th, 2015
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Qatar Petroleum Announces its Crude Oil Price of October 2015

Qatar Petroleum (QP) has announced its official prices for Qatar onshore and offshore crude of October 2015. The company set Qatar onshore crude oil price at $ 46.25 per barrel and offshore crude oil at $ 44.00 More...

By Staff writer On Thursday, November 5th, 2015
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ADNOC to reduce operating costs by 25%

Affirming that world oil price fluctuations will not affect its long-term project development policy, Abu Dhabi National Oil Company (ADNOC) said today that it was working to cut operating costs of its projects More...

By Staff writer On Tuesday, November 3rd, 2015
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OPEC daily basket price

The price of OPEC’s basket of twelve crudes stood at US$43.66 a barrel on Friday, compared with US$44.34 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) More...

By Staff writer On Friday, October 30th, 2015
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OPEC daily basket price announced

The price of OPEC basket of twelve crudes stood at US$43.20 a barrel on Wednesday, 28th October, compared with $42.40 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes More...

By Staff writer On Thursday, October 29th, 2015
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GCC countries will save four billion barrels of oil

Meeting renewable energy targets in GCC countries would save four billion barrels of oil and reduce emissions by 1.2 gigatonnes between now and 2030, said a report from the Abu Dhabi-based International Renewable More...

By Staff writer On Sunday, October 25th, 2015
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Oil Prices to Stabilise at USD55.0 in 2015-16

Qatar National Bank (QNB Group) forecasted in its weekly financial analysis that oil prices will stabilise around an average of USD55.0 in both 2015-16 before picking up to USD60.2 per barrel in 2017 as the supply More...

By Melanie Mingas On Thursday, July 30th, 2015
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ENOC to expand operations beyond UAE

Emirates National Oil Co, ENOC, is to expand beyond its native UAE following the deregulation of fuel prices from Saturday, 1 August, 2015. The deregulation is expected to lift considerable financial pressure off More...

By Giorgios Retsinas On Sunday, May 31st, 2015
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ADNOC and Al Hosn gas projects on track for completion

  Al Shafar General Contracting Co. LLC, UAE-based construction group (‘ASGC’), is announced that existing projects with Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi Gas Development Company Ltd More...

By Staff writer On Sunday, February 15th, 2015
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Are Oil Prices Poised For Rebound?

oil The Brent crude oil price fell 57% between June 2014 and January 2015 to a low of USD45 per barrel (/b). Over the last three weeks, however the oil price has rebounded by 31% to a peak of USD59/b. This poses More...

By Staff writer On Sunday, February 15th, 2015
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70 world oil experts to address int’l safety conf.

70 world oil experts to address int’l safety conference Some world oil experts are expected to partake in the Kuwait International Health, Safety & Environment (KIHSE) Conference & Exhibition due here More...

By Staff writer On Saturday, February 14th, 2015
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Kuwait maintains stable outlook

oil In view of the sharp fall in international oil prices in recent months, Standard and Poor’s has significantly revised down its oil price assumptions for 2015-18, affirming Kuwait’s AA/A-1+ rating. “We More...

By Staff writer On Saturday, February 14th, 2015
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Kuwaiti oil price crude rises to USD 50.84 pb

oil barrel Kuwaiti crude oil price rose on Thursday by USD 0.6 to settle at USD 50.84 pb as opposed to USD 50.78 pb on Wednesday, Kuwait Petroleum Corporation (KPC) said on Friday. On international markets, crude More...

By Staff writer On Saturday, February 14th, 2015
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OPEC daily basket price stood at $ 52.86 a barrel Thursday, 12 February 2015

Oil The price of OPEC basket of twelve crudes stood at 52.86 dollars a barrel on Thursday, compared with $52.21 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes More...

By Staff writer On Friday, February 13th, 2015
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Kuwaiti oil price crude barrel down to USD 50.78 pb

Kuwaiti oil price crude barrel down to USD 50.78 pb Kuwaiti crude oil price went down Wednesday by USD 0.72 to settle at USD 50.78 pb as opposed to USD 51.50 pb Tuesday, said Kuwait Petroleum Corporation (KPC) on More...

By Staff writer On Friday, February 13th, 2015
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OPEC daily basket price for Wednesday announced

oil The price of OPEC’s basket of twelve crudes stood at US$52.21 dollars a barrel on Wednesday, compared with $53.14 the previous day, according to OPEC’s Secretariat calculations. OPEC Reference Basket More...

By Staff writer On Thursday, February 12th, 2015
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Oman Crude Oil Financial Contract closes at US$55.59 at DME

Oman Crude Oil Financial Contract closes at US$55.59 at DME The price of Oman Crude Oil Financial Contract, DME Oman, went down by US$0.30, closing at US$55.59 a barrel for April delivery, at Dubai Mercantile Exchange More...

By Staff writer On Wednesday, February 11th, 2015
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OPEC: world oil demand is anticipated to rise by 1.15 mb/d in 2015

OPEC: world oil demand is anticipated to rise by 1.15 mb/d in 2015 Global oil demand is estimated to have grown by 0.95 mb/d in 2014, representing an upward revision of 20 tb/d from the previous month, according More...

By Staff writer On Saturday, February 7th, 2015
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OPEC daily basket price stood at $50.81

opec The price of OPEC basket of twelve crudes stood at 50.81 dollars a barrel on Thursday, compared with $52.22 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes More...

By Staff writer On Saturday, February 7th, 2015
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Kuwaiti oil crude barrel down USD 2.39, reaching USD 48.28

Kuwaiti oil crude barrel down USD 2.39, reaching USD 48.28 Price of Kuwaiti crude oil barrel went down USD 2.39 reaching USD 48.28 per barrel on Thursday, compared to USD 50.67 per barrel on Wednesday, according More...

By Staff writer On Friday, February 6th, 2015
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OPEC daily basket price for Wednesday announced

OPEC The price of OPEC basket of twelve crudes stood at US$52.22 dollars a barrel on Wednesday, compared with $51.77 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes More...

By Staff writer On Thursday, February 5th, 2015
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OPEC daily basket price for Tuesday, 3rd February 2015

oil barrel The price of OPEC’s basket of twelve crudes stood at US$51.77 dollars a barrel on Tuesday, compared with $48.19 the previous day, according to OPEC’s Secretariat calculations. OPEC Reference More...

By Staff writer On Wednesday, February 4th, 2015
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National Oil Companies lost 38 billion in 10 years, says Minister of Energy

Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, has said that the UAE local oil companies suffered significant losses due to lower More...

By Staff writer On Wednesday, February 4th, 2015
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Oman Crude Oil Financial Contract closes at US$53.77 at DME

Oil The price of Oman crude oil futures on the Dubai Mercantile Exchange, DME, for delivery of next April, went up by US$4.14 closing at US$53.77 a barrel at DME at 12:30 p.m., Dubai time. DME Oman crude oil is More...

By Staff writer On Wednesday, February 4th, 2015
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OPEC daily basket price for Monday, 2nd February, 2015

oil The price of OPEC’s basket of twelve crudes stood at US$48.19 dollars a barrel on Monday, compared with $44.83 the previous Friday, according to OPEC’s Secretariat calculations. OPEC Reference Basket More...

By Staff writer On Tuesday, February 3rd, 2015
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OPEC daily basket price for Friday, 30th January 2015

oil The price of OPEC’s basket of twelve crudes stood at US$44.83 a barrel on Friday, compared with $43.88 the previous day, according to OPEC’s Secretariat calculations. OPEC Reference Basket of Crudes More...

By Staff writer On Tuesday, February 3rd, 2015
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Credit Agricole: Low oil prices is an opportunity for GCC economies to reinvent themselves

Credit Agricole: Low oil prices is an opportunity for GCC economies to reinvent themselves Experts from Cr?dit Agricole Private Banking commented at a media roundtable today that whilst low oil prices are a challenge More...

By Staff writer On Tuesday, February 3rd, 2015
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IQ Announces a Key Downstream Long-Term Services Agreement with GE Oil and Gas

Industries Qatar (IQ) Industries Qatar (IQ), one of the region’s industrial giants with interests in the production of a wide range of petrochemical, fertiliser and steel products, issued a statement today confirming More...

By Staff writer On Thursday, January 29th, 2015
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OPEC daily basket price for Tuesday 27th January

oil price of OPEC’s basket of twelve crudes stood at US$43.24 a barrel Tuesday, 27th January 2015, compared with $42.90 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket More...

By Staff writer On Wednesday, January 28th, 2015
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Oman Crude Oil Financial Contract will be US$0.90 lower than average daily settlement price

Oil The Department of Oil Affairs of the Government of Dubai has announced that it has notified its customers that the official price of Dubai crude oil to be delivered next April, will be US$0.90 lower than the More...

By Staff writer On Wednesday, January 28th, 2015
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ENOC and EMGAS co-host first Middle East LP Gas Summit in Dubai

Saeed Khoory, CEO of ENOC Emirates National Oil Company (ENOC) and its subsidiary Emirates Gas (EMGAS) recently co-hosted the first Middle East LP Gas Summit in Dubai to promote the safe use of Liquefied Petroleum More...

By Staff writer On Wednesday, January 28th, 2015
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OPEC’s basket down 79 cents, reaching USD 42.90 pb

oil The price of OPEC’s crude basket down by 79 cents on Monday, reaching USD 42.90 per barrel (pb), compared to USD 43.69 pb on Friday, said OPEC on Tuesday. Meanwhile, the organization said that the annual More...

By Staff writer On Tuesday, January 27th, 2015
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OPEC daily basket price for Friday 23rd January 2015

opec The price of OPEC’s basket of twelve crudes stood at US$ 43.69 dollars a barrel on Friday, compared with $43.05 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket More...

By Staff writer On Monday, January 26th, 2015
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Borouge participates in Arabplast 2015 exhibition

Arabplast 2015 exhibition Borouge, a joint venture of the Abu Dhabi National Oil Company and Austria’s Borealis, has offered significant opportunities to enhance its customers’ business in pipe, advanced More...

By Staff writer On Friday, January 23rd, 2015
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OPEC daily basket price for Wednesday, 21 January 2015

Oil The price of OPEC’s basket of twelve crudes stood at US$43.25 dollars a barrel on Wednesday, compared with $43.04 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket More...

By Staff writer On Thursday, January 22nd, 2015
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Global growth to decrease despite drop in oil prices

oil Although global growth does receive a boost from lower oil prices, it is more than offset by negative factors in many advanced and emerging market economies, the International Monetary Fund (IMF) indicated in More...

By Staff writer On Thursday, January 22nd, 2015
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OPEC daily basket price for Tuesday

oil The price of OPEC’s basket of twelve crudes stood at US$43.04 a barrel on Tuesday, compared with US$43.87 a barrel the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket More...

By Staff writer On Wednesday, January 21st, 2015
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OPEC daily basket price for Monday, 19 January 2015

OPEC The price of OPEC’s basket of twelve crudes stood at US$43.87 a barrel on Monday, compared with $43.40 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference Basket of More...

By Staff writer On Monday, January 19th, 2015
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OPEC daily basket price for Friday, 16th January 2015

oil The price of OPEC’s basket of twelve crudes stood at US$43.40 dollars a barrel on Friday, compared with $43.14 the previous day, according to OPEC’s Secretariat calculations. OPEC Reference Basket More...

By Staff writer On Sunday, January 18th, 2015
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Kuwait crude oil price soars USD 0.41 to USD 40.85 pb

Oil The price of Kuwait crude oil per barrel slightly increased by USD 0.41 to stand at USD 40.85 pb in Friday’s trading compared to USD 40.44 pb on Thursday, Kuwait Petroleum Corporation (KPC) said on Saturday. On More...

By Staff writer On Sunday, January 18th, 2015
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Average oil price likely to be USD 80-85 in 2015

oil Average world oil price is predicted to be in the vicinity of USD 80-85 per barrel in 2015, according to a recent economic report. To prove that, the current dip in oil prices could push global economic growth More...

By Staff writer On Saturday, January 17th, 2015
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OPEC daily basket price stood at $43.14 a barrel on Thursday

oil barrel The price of OPEC basket of twelve crudes stood at US $ 43.14 a barrel on Thursday, compared with US $41.65 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket More...

By Staff writer On Saturday, January 17th, 2015
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Weak world economies continue to restrain oil demand growth

oil Growth in global oil demand continues to stagnate as world economic conditions fail to broadly improve, despite a sharp decline in oil prices, the International Energy Agency (IEA) said in a report Friday. “Macroeconomic More...

By Staff writer On Friday, January 16th, 2015
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Kuwaiti crude oil stable at USD 38.90 pb

Oil Price of Kuwaiti crude oil was stable at USD 38.90 per barrel (pb) on Wednesday, same as it did the day before, said the Kuwait Petroleum Corporation (KPC) on Thursday. Despite the ongoing price downturn trend More...

By Staff writer On Friday, January 16th, 2015
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Plummeting oil prices good for consumers, bad for growth

Christine Lagarde, Managing Director of the International Monetary Fund (IMF) Managing Director of the International Monetary Fund (IMF) Christine Lagarde admitted here Thursday that while cheap oil prices are welcome More...

By Staff writer On Wednesday, January 14th, 2015
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OPEC daily basket price for Tuesday, 13 January 2015

oil The price of OPEC’s basket of twelve crudes stood at US$41.50 dollars a barrel on Tuesday, compared with $43.55 the previous day, according to OPEC’s Secretariat calculations. OPEC Reference Basket More...

By Staff writer On Wednesday, January 14th, 2015
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Fall in oil prices casts doubts on GCC spending level

Fall in oil prices casts doubts on GCC spending level The decline in oil prices during the last quarter of 2014 casted doubts on the GCC governments’ ability to sustain the planned level of spending in 2015, More...

By Staff writer On Wednesday, January 14th, 2015
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OPEC daily basket price for Monday, 12th January 2015

OPEC The price of OPEC’s basket of twelve crudes stood at US$43.55 dollars a barrel on Monday, compared with $45.19 the previous Friday, according to OPEC’s Secretariat calculations. OPEC’s Reference More...

By Staff writer On Tuesday, January 13th, 2015
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OPEC daily basket for Friday, 9 January 2015

opec The price of OPEC’s basket of twelve crudes stood at US$45.19 a barrel on Friday, compared with $45.68 the previous day, according to OPEC’S Secretariat calculations. OPEC’s Reference Basket More...

By Staff writer On Tuesday, January 13th, 2015
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Oman Crude Oil Futures Contract closes at US$45.65 a barrel at Dubai Mercantile Exchange

Oman Crude Oil Futures Contract closes at US$45.65 a barrel at Dubai Mercantile Exchange The price of DME Oman Crude Oil Futures Contract went down by US$2.01, closing at US$45.65 a barrel for March delivery, at More...

By Staff writer On Sunday, January 11th, 2015
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Kuwaiti oil barrel drops 29 cents, reaches USD 43.21

oil The price of Kuwaiti oil barrel dropped 29 cents reaching USD 43.21 on Friday, compared to USD 43.50 per barrel on Thursday, said Kuwait Petroleum Corporation (KPC) on Saturday. Oil prices in international markets More...

By Staff writer On Saturday, January 10th, 2015
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Kuwait crude oil price up USD 1.05 to USD 43.50 pb

Oil The price of Kuwaiti oil went up by USD 1.05 to settle at USD 43.50 per barrel Thursday after being at USD 42.45 Wednesday, said Kuwait Petroleum Corporation (KPC) here Friday. Oil prices went up in the global More...

By Staff writer On Saturday, January 10th, 2015
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The price of OPEC basket of twelve crudes stood at 45.74 pb

OPEC The price of OPEC basket of twelve crudes stood at 45.74 dollars a barrel on Thursday, compared with $44.85 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes More...

By Staff writer On Friday, January 9th, 2015
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OPEC daily basket price for Wednesday announced

OPEC The price of OPEC’s basket of twelve crudes stood at US$44.85 a barrel on Wednesday, compared with $46.62 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes More...

By Staff writer On Thursday, January 8th, 2015
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Kuwaiti crude down to USD 44.64 pb

Kuwaiti crude down to USD 44.64 pb The price of Kuwaiti crude oil went down Tuesday by USD 2.72 to USD 44.64 per barrel compared with USD 47.36 pb on Monday, said the Kuwait Petroleum Corporation (KPC) Wednesday. On More...

By Staff writer On Thursday, January 8th, 2015
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Oil price decline drove down GCC indices in 4Q ’14

Oil price decline drove down GCC indices in 4Q ’14 The sharp decline in oil prices in late 2014 led to a more serious correction in 4Q14, wiping out most of the gains made by the stock markets of the GCC member More...

By Staff writer On Thursday, January 8th, 2015
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OPEC daily basket price for Tuesday, 6th January 2015

opec The price of OPEC’s basket of twelve crudes stood at US$46.69 a barrel on Tuesday, compared with $48.99 the previous day, according to OPEC’s Secretariat calculations. OPEC Reference Basket of Crudes More...

By Staff writer On Wednesday, January 7th, 2015
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Sharp drop in oil price eats into stocks

Sharp drop in oil price eats into stocks The stock market was hammered hard today by the steep slide in the price of oil, leaving the way wide open for many speculators to take advantage of that and of the ensuing More...

By Staff writer On Wednesday, January 7th, 2015
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Oman Crude Oil below $50/b, down 55% from 2014 peak

crude oil Oman crude oil prices on the Dubai Mercantile Exchange tumbled to under US$50/b for the first time in more than 5 years, as the 2014 oil price collapse continued into the new year. Front-month January More...

By Staff writer On Tuesday, January 6th, 2015
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OPEC daily basket price for Friday January 2nd

Oil price The price of OPEC’s basket of twelve crudes stood at US$ 51.91 a barrel on Friday, compared with $52.00 the previous Wednesday, according to OPEC Secretariat calculations. The new OPEC Reference More...

By Staff writer On Sunday, January 4th, 2015
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Kuwait crude oil price up to USD 51.35 pb

oil barrel The price of Kuwait crude oil per barrel rose USD 0.86 to stand at USD 51.35 pb in Friday’s trading compared to USD 50.49 pb on Wednesday, Kuwait Petroleum Corporation (KPC) said on Saturday. The More...

By Staff writer On Friday, January 2nd, 2015
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Kuwaiti crude down to USD 50.49 pb

oil The price of Kuwaiti crude oil went down Wednesday by USD 0.21, settling at USD 50.49 per barrel after being at USD 50.70 pb the day before, said the news bulletin for Kuwait Petroleum Corporation (KPC) Thursday. In More...

By Staff writer On Thursday, January 1st, 2015
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Kuwaiti crude down USD 2.2 to USD 50.70 pb

Oil The price of Kuwait’s crude oil dropped by USD 2.2 on Tuesday, to USD 50.70 per barrel (pb), compared to USD 52.90 pb on Monday, said Kuwait Petroleum Corporation (KPC) on Wednesday. International crude More...

By Staff writer On Wednesday, December 31st, 2014
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Kuwaiti oil drops USD 1.99, reaches USD 52.90 pb

Kuwaiti oil drops USD 1.99, reaches USD 52.90 pb The price of Kuwaiti oil dropped USD 1.99 on Monday, reaching USD 52.90 per barrel (pb), compared to USD 54.89 pb last Wednesday, said Kuwait Petroleum Corporation More...

By Staff writer On Wednesday, December 31st, 2014
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Iraq’s oil proceeds in ’15 budget at 84 trln dinars

Hoshyar Zebari, Iraqi Finance Minister Iraqi Finance Minister Hoshyar Zebari predicted the country’s oil revenues to reach 84 trillion dinars in 2015, while thanking Kuwait for approving to postpone for a More...

By Staff writer On Wednesday, December 31st, 2014
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Oman Crude Oil Financial Contract closes at US$53.13 at DME

Oman Crude Oil Financial Contract closes at US$53.13 at DME The price of Oman Crude Oil Financial Contract, DME Oman, went down by US$2.35, closing at US$53.13 a barrel for February delivery, at Dubai Mercantile More...

By Staff writer On Wednesday, December 31st, 2014
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ENOC reduces diesel prices by 20 fils to AED 3.10

ENOC reduces diesel prices by 20 fils to AED 3.10 Emirates National Oil Company, ENOC, which is headquartered in Dubai, today announced that it has reduced the price of diesel by an additional 20 fils to AED3.10 More...

By Staff writer On Wednesday, December 31st, 2014
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OPEC daily basket price for Monday, 29th December 2014.

opec The price of OPEC’s basket of twelve crudes stood at US$54.44 a barrel on Monday, compared with $56.03 the previous Wednesday, according to OPEC’s Secretariat calculations. The new OPEC Reference More...

By Staff writer On Tuesday, December 30th, 2014
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OPEC daily basket price for Wednesday, 24th December 2014

OPEC The price of OPEC’s basket of twelve crudes stood at US$56.06 a barrel on Wednesday, compared with $55.59 the previous day, according to OPEC’S Secretariat calculations. OPEC Reference Basket of More...

By Staff writer On Tuesday, December 30th, 2014
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Oman Crude Oil Financial Contract closes at US$55.48 at DME

Oman Crude Oil Financial Contract closes at US$55.48 at DME The price of Oman Crude Oil Financial Contract, DME Oman, went down by US$1.23, closing at US$55.48 a barrel for February delivery, at Dubai Mercantile More...

By Staff writer On Sunday, December 28th, 2014
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The Ruble Rubble May Spell Further Trouble: QNB

The Ruble Rubble May Spell Further Trouble: QNB The weekly analysis of Qatar National Bank (QNB) Group said that the Capital flight from developing economies has accelerated, most spectacularly from Russia. A toxic More...

By Staff writer On Friday, December 26th, 2014
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Kuwaiti oil barrel up by 85 cents, reaches USD 54.89

oil barrel The price of Kuwaiti oil barrel rose by 85 cents on Wednesday reaching USD 54.89, compared to USD 54.04 per barrel on Tuesday, according to Kuwait Petroleum Company (KPC). International oil markets are More...

By Staff writer On Friday, December 26th, 2014
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KSE bounces as oil prices rise, nat’l portfolio interfers

KSE bounces as oil prices rise, nat’l portfolio interfers The rise of oil prices and purchase deals led by the national portfolio targeting operational shares, and the return of general confidence have pushed More...

By Staff writer On Thursday, December 25th, 2014
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Oman Crude Oil Financial Contract closes at US$58.10 at DME

Oman Crude Oil Financial Contract closes at US$58.10 at DME The price of Oman Crude Oil Financial Contract, DME Oman, went up by US$1.05, closing at US$ 58.10 a barrel for February delivery, at Dubai Mercantile More...

By Staff writer On Wednesday, December 24th, 2014
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OPEC daily basket price for Monday 22 December

OPEC The price of OPEC’s basket of twelve crudes stood at US$56.90 a barrel on Monday, compared with $55.52 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference Basket of More...

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