Russia is the world’s second-largest oil producer and a major exporter and the tighter US scrutiny of its shipments could curtail supply
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Kuwaiti crude oil price jumps by $1.42 to reach $91.55
The jump in prices is widely seen as a direct impact of the dramatic situation involving Israel and Hamas
ADIPEC
OPEC predicts world economy to more than double by 2045
The global primary energy demand is also forecast to continue growing in the medium- and long-term, increasing by a significant 23 percent in the period to 2045, according to the 2022 edition of the World Oil Outlook by the oil producers body
Crude
Why UAE petrol prices are increasing in 2022
Petrol prices are unlikely to come down significantly more until other oil producers are able to increase supplies
Crude
Brent crude short-selling rises to 5-month high
Another sign of waning faith in a week that saw prices drop amid a host of sluggish reports on global manufacturing
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Oil keeps rising as more US sanctions worsen tension in Gulf
Hopes that China and the US will restart trade negotiations have also aided prices, with Trump set to meet with Chinese President Xi Jinping at the G-20 summit in Japan this week
Crude
Saudi Arabia hopes to balance world’s crude market by 2020
Saudi energy minister Khalid Al-Falih said that “there is plenty of supply” when asked his current assessment of crude markets
Al Rajhi Bank
Saudi bank stocks dip after Islamic levy settlement
Stocks of all but one of the members of the Tadawul Banks Index fell
Crude
Oil falls below $58 as rig count counters OPEC curbs extension
OPEC and its allies including Russia agreed to keep the 1.8 million barrels a day of supply cuts in place
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Oil near $44 as Saudi Arabia’s output increase raises doubts
The world’s biggest oil exporter told OPEC it raised output by 190,000 barrels a day
Abu Dhabi
Adnoc may sell shares in units to expand
“It will enable us to accelerate our growth, increase revenue and improve integration”, says CEO