The problem of maintaining a specialist labour pool and supply chain in the face of deep and long activity cycles is both a consequence and contributor to instability in the industry
Iran has increased oil exports by 500,000 barrels per day since international sanctions against Tehran were lifted in January, a top official said on Saturday.
Crude oil futures rose in thin trade as many Asian markets were on holiday for Lunar New Year, with few trading cues expected until Federal Reserve Chair Janet Yellen gives testimony to lawmakers later in the week.
Crude oil futures extended gains from the previous session on Thursday as a weaker dollar and unconfirmed talk of producers potentially meeting to discuss output cuts lifted the market despite record US stocks due to overproduction.
Domestic institutions turned net profit takers to drag the 20-stock Qatar Index down 1.52% to 9,486.71 points.
British energy giant BP on Tuesday posted the company's biggest loss in at least 20 years, ravaged by tumbling oil prices, and axed another 3,000 jobs.
Kuwaiti Finance Minister Anas al-Saleh said on Tuesday that he expected the price of oil for the 2016/17 budget to be set at around $25 a barrel.
An uphill battle for athletics as another crisis hits
Kuwait's Emir Sheikh Sabah al-Ahmad Al-Sabah said Thursday that the Gulf country plans to cut heavy subsidies on fuel and power in a bid to offset a fall in oil revenues.
Cheap oil has become too much of a good thing for global equities judging by the way the two markets have tanked since the start of the year, with investors becoming more alarmed by the deflationary effects of crude ...
Oil prices hit their lowest since 2003 on Monday, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country over the weekend.
British energy major BP said Tuesday that it will axe more than 4,000 jobs worldwide over the next two years in response to collapsing oil prices.
