Organisation of Petroleum Exporting Countries (OPEC) and its allies, including Russia, are expected to ratify a plan to add 400,000 barrels-a-day in October
oil price recovery
Latest in oil price recovery
Dana Gas
UAE’s Dana Gas reports $139 million net profit in H1 2021
Revenue in the first half of 2021 increased by 19% to $216m
crude oil price
Saudi Aramco records 288% net income surge in Q2 2021
Growth was attributed to higher oil prices and recovery in global demand, as well as easing of Covid-19 restrictions
crude oil output
Oil surges to six-year high as OPEC+ in crisis mode
From international oil majors to Middle Eastern petrostates, the market will be watching keenly in the coming days as Riyadh and Abu Dhabi publish prices and negotiate volumes for their August crude supplies
Economic activity
Why increased taxation should not form part of UAE’s economic recovery, says senior banking figure
Sunil Kaushal, CEO of Standard Chartered Africa and Middle East (AME) said the increasing price of oil and a focus on economic growth should be enough to push the recovery forward
crude oil price
Oil continues higher as the Fed tries to soothe markets
The Fed was more hawkish than anticipated at its June meeting, but officials want to make sure that market participants are not expecting the world’s most important central bank to hike rates prematurely
crude oil price
Oil prices steady enough for Gulf countries to focus on diversification, say experts
While governments press on with recovery and diversification, analysts warn that oil prices aren’t out of the woods yet
commodity trading
Middle East physical oil off to strong start on demand revival
Premiums for August-loading Oman oil surged against the region’s main pricing benchmark and timespreads for Dubai crude rallied
commodity trading
Oil gains for second week on signs summer travel rush underway
OPEC+ alliance to hike output in July and may need to keep adding barrels to the market in August or September to meet the recovery
commodity trading
Oil steady near highest since 2018 with Saudis upbeat on demand
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said demand “has shown clear signs of improvement” as the alliance ratified an output boost for July
Commodities
Oil climbs towards $67 with market focused on OPEC+ policy meet
OPEC and its allies are expected to stick with a decision to boost output in July
crude oil price
Oil marks anniversary of crash below zero with rally above $64
Crude is up more than 30 percent in 2021 as investors bet the reopening of economies will stoke consumption and keep draining global inventories
crude oil output
Oil steady near $63 after jumping on US crude stockpiles draw
Futures in New York traded near $63 a barrel after closing higher for a third day, the longest run of gains in more than a month
Global oil demand
Oil rises on signs of U.S. inventory drawdown, OPEC bullishness
OPEC boosted its consumption forecast for 2021 and predicted the recovery will continue
crude oil price
Oil climbs above $60 as OPEC+ faces critical decision on supply
While the rollout of coronavirus vaccines and supply curbs have underpinned a fourth quarterly gain for crude, the rebound has faltered in recent weeks on concern that near-term consumption is at risk, particularly in Europe
crude oil output
Oil bursts higher as pivotal OPEC+ meeting looms, dollar eases
Alliance gathers on Thursday and is expected to return some barrels to a market off to its quickest ever start to a year
Brent Crude
Whispers of $100 oil return as crude shakes off coronavirus’s clasp
Following a hard downfall, oil prices are making their comeback