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Gulf Independent - OPEC
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Oil slips, but Brent crude holds near $50 on signs of rebalance ECONOMY

Oil slips, but Brent crude holds near $50 on signs of rebalance

Oil prices were slightly lower but Brent crude held around $50 a barrel in choppy trading on Friday on signs the market was moving back to more balanced supply and demand, and on an OPEC meeting viewed as supportive.

4:45 AM November 25 2016
Brent crude oil holds above $50 on signs of rebalance ECONOMY

Brent crude oil holds above $50 on signs of rebalance

Brent crude prices held around $50 a barrel on Friday on signs the market was moving back to more balanced supply and demand, and on an Opec meeting viewed as supportive.

4:45 AM November 25 2016
Oil turns positive as US crude drawdown offsets OPEC outcome ECONOMY

Oil turns positive as US crude drawdown offsets OPEC outcome

Oil prices rose on Thursday after data showing a weekly drawdown in US crude stockpiles helped crude markets recover from OPEC's decision not to set a ceiling for its production.

4:45 AM November 25 2016
Opec happy with oil market, Saudi Arabia says ECONOMY

Opec happy with oil market, Saudi Arabia says

Saudi Arabia expressed confidence on Thursday that oil prices will keep recovering, cementing expectations that a divided Opec will decide to keep crude gushing at its meeting in Vienna.

4:45 AM November 25 2016
Oil rises above $50 on signs of shrinking oversupply ECONOMY

Oil rises above $50 on signs of shrinking oversupply

Brent oil futures climbed above $50 a barrel on Thursday for the first time in nearly seven months on signs that a global supply glut is easing, one week ahead of an OPEC meeting.

4:45 AM November 25 2016
Al-Attiyah energy awards fetes seven global industry leaders ARABIA

Al-Attiyah energy awards fetes seven global industry leaders

The fourth edition of the annual “Abdullah Bin Hamad Al-Attiyah International Energy Awards” honoured seven global industry leaders during a gala dinner at the Museum of Islamic Art on Tuesday.

4:45 AM November 25 2016
$65 oil price 'vital' for investment, says al-Sada ECONOMY

$65 oil price 'vital' for investment, says al-Sada

Oil markets are “rebalancing” but crude is “not at a fair price” yet, HE the Minister of Energy Dr Mohamed bin Saleh al-Sada has said and noted a minimum price of $65 a barrel is "badly needed at the moment".

4:45 AM November 25 2016
Oil prices continue dip with stronger dollar ECONOMY

Oil prices continue dip with stronger dollar

Oil extended losses in Asia Tuesday as a stronger US dollar and progress in controlling wildfires in Canada's crude-producing Alberta province dampened prices.

4:45 AM November 25 2016
Energy-reliant countries must diversify their economies: al-Attiyah ECONOMY

Energy-reliant countries must diversify their economies: al-Attiyah

HE the former Deputy Prime Minister and Minister of Energy and Industry Abdullah bin Hamad al-Attiyah has urged countries that relied on oil and gas to diversify their economies.

4:45 AM November 25 2016
Oil prices rise on Nigerian outages, Goldman forecast ECONOMY

Oil prices rise on Nigerian outages, Goldman forecast

Oil prices jumped over 2% on Monday on growing Nigerian oil output disruptions and Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit.

4:45 AM November 25 2016
Iran, oil producers must not increase production: Kuwait deputy FM ECONOMY

Iran, oil producers must not increase production: Kuwait deputy FM

Kuwait's deputy foreign minister Khaled Jarallah said oil exporting countries must freeze production and the market could not support a production increase from Iran ...

4:45 AM November 25 2016
Opec signals greater oil glut in 2016 as its output surges ECONOMY

Opec signals greater oil glut in 2016 as its output surges

Opec said the global oil market is oversupplied and signalled the glut may increase this year, as surging output from its members makes up for losses from other countries whose production has been hit by a price fall.

4:45 AM November 25 2016