#Crude Oil

Saudi Aramco - oil minister

Saudi Arabia to focus on energy transition, Aramco to maintain capacity: Prince Abdulaziz

Aramco chief executive Amin Nasser said he expected oil demand to increase to 104 million bpd this year and to 105 million bpd in 2025

Oil rig - OPEC

OPEC+ leaves oil production levels unchanged, to review production cut extension in March

OPEC said its “committee will continue to monitor” countries’ conformity with output decisions

oil refinery

OPEC oil output sees biggest monthly fall in January: Trend watch

OPEC oil output in January registered the biggest monthly drop since July, as several members implemented new voluntary production cuts

petrol

UAE petrol prices for February 2024: Here’s how much a full tank will cost

The UAE has announced revised fuel prices for the coming month

oil

UAE announces petrol price hike for February

Consumers will have to shell out a few fils more as authorities announced a hike in petrol prices for February

Red Sea shipping

Oil eased ahead of Christmas break on possible future Angola output increase

Brent crude oil futures fell 32 cents, or 0.4 per cent, to settle at $79.07 a barrel

UAE announces petrol, diesel prices for December

Fuel prices fall in UAE: latest December rates revealed

The fuel price committee reduced the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 7 fils per litre in December

Crude oil market on tenterhooks over OPEC meet. Image credit: Getty Images

OPEC+ talks: Oil inches higher as Black Sea storm disrupts supply

OPEC+ is due to hold an online ministerial meeting to discuss 2024 production targets

Saudi Arabia: Image: Getty Images

Saudi among world’s fastest growing economies in 2024: Moody’s

The Gulf’s biggest economy will be among the three top fastest growing countries in the world next year, with only India and Indonesia set to expand faster

oil

Oil set for third weekly decline as Middle East crisis concerns ebb

The drop in prices comes as concerns around supply disruptions due to the Israel crisis ease along with a reduced demand for China

oil

Oil dips as caution about data-heavy week offsets Israel crisis jump

Brent crude oil futures dropped 98 cents, or 1.1 per cent, to $89.50 a barrel

red sea

How great is Japan’s reliance on the Middle East energy

Japan plans to cut use of LNG in the power sector to 20 per cent by 2030

chevron

Chevron to buy Hess for $53bn in latest oil mega-merger

The combined companies expect to generate about $1bn in cost synergies within a year of its closing

oil

UAE’s Crescent, Iraq launch deals to develop three oil and gas fields

The Crescent Petroleum contracts are expected to begin producing 400 million standard cubic feet per day of natural gas within 18 months

israel gaza crisis global financial markets

Global market reaction to a week of the Israel-Gaza crisis

Oil and gas markets have been where the nervousness has been most evident due to fears that Israel could become bigger

OPEC projection for 2024 energy demand

OPEC sticks to 2024 oil demand growth forecast

The report trimmed its forecasts for total world demand in the current quarter and the first three months of 2024

oil

OPEC+ panel holds oil policy steady as Saudi Arabia, Russia keep cuts

Saudi Arabia, Russia will continue with their respective production cuts in a bid to “balance the global oil market”

oil price

Saudi Arabia, Russia extend oil cuts until December, crude jumps to highest level in 2023

Oil prices rose above $90 a barrel for the first time in 2023 on the back of the announcements made by Saudi Arabia and Russia

oil imports

India’s crude oil imports from Saudi Arabia surges

The world’s third largest oil importer has increased its purchase of oil from Saudi Arabia

UAE announces petrol, diesel prices for September 2023

UAE announces petrol, diesel prices for September 2023

The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 28 fils per litre in September

Diesel prices at a gas station at dusk.

Fuel update: Diesel inventories could get dangerously low in coming months

The current crunch highlights a dilemma that nations have in phasing out oil refineries as they try to transition away from fossil fuels

OPEC

OPEC oil export revenue was highest in almost a decade last year

OPEC+ nations are engaged in production cuts to balance prices in crude markets

Crude oil market on tenterhooks over OPEC meet. Image credit: Getty Images

Oil watchers predict OPEC+ to maintain steady supply

Forecasters predict OPEC+ to keep output steady due to demand in China, and the current curbs, should rapidly deplete world inventories

UAE increase petrol price

UAE raises fuel prices for May 2023

The fuel price committee marginally increased petrol prices by 15 fils for the month of May

Oil steadies after surge with supplies and stockpiles in focus

West Texas Intermediate traded above $81 a barrel after rallying by 2.2 per cent on Tuesday

Oil prices surges after OPEC+ cuts

Oil surges after OPEC+ makes unexpected crude production cut

Oil prices surged after OPEC+ pledged to make production cuts starting next month that will exceed one million barrels a day

Oil eases at week’s open after top central banks warn on rates

Oil eases at week’s open after top central banks warn on rates

Crude prices are on course for a third consecutive monthly drop in what would be the longest losing run in more than two years

Oil extends losses as traders weigh Iran supply, demand outlook

Oil extends losses as traders weigh Iran supply, demand outlook

Oil is still up around 20 per cent this year and the surge in energy prices over the first half have underpinned record earnings for producers

OPEC sees global oil market tipping into surplus this quarter

OPEC cut forecasts for the amount of crude it will need to pump in the third quarter by 1.24 million barrels a day to 28.27 million a day

Oil edges lower as market tightness eases, pipeline restarts

Oil edges lower as market tightness eases, pipeline restarts

West Texas Intermediate declined toward $91 a barrel in early Asian trading