#oil price

Oil price advances as spreads signal market strength

Oil rises, markets await OPEC+ decision amid mixed demand drivers

A decision on extending the cuts is expected in the first week of March, with individual countries expected to announce their decisions


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


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

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

Oil prices down as diplomatic moves in Israel-Gaza crisis trim supply-disruption risk

To ease oil supply pressure, the US suspended sanctions on OPEC member Venezuela after a Venezuelan government deal with the opposition


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”

Saudi Aramco’s record net income. Image by Aramco

Saudi Aramco profit surges to $161.1bn in 2022, raises dividend

The company’s declared a dividend of $19.5bn for the final quarter of 2022, a 4 per cent increase compared to the previous three-month period

Saudi Arabia GDP 2022

Saudi Arabia’s 2022 GDP grows 8.7 per cent, boosted by higher oil prices

The country’s GDP crossed the $1tn mark for the first time in 2022 as higher oil prices boosted government revenues


Kuwait posts smaller deficit for last fiscal year on higher oil

The OPEC member recorded the highest non-oil revenue in seven years, up 38.5 per cent to KD2.4bn

Saudis make biggest oil price hike in 20 years after OPEC+ cuts

Brent crude, down 36 per cent this year, has clawed back some of its losses and ended trading on Friday at more than $40 a barrel

Saudi Aramco is first oil major to regain pre-price-war share price

Aramco’s recovery has been achieved on much smaller share volumes than its international counterparts

Kuwait’s wealth fund on standby as oil price, virus hit finances

By law, 10 per cent of state revenue is annually transferred into the Future Generations Fund, which invests abroad and has adequate liquidity to meet any requirement