The Bloomberg Intelligence survey found that despite notable geopolitical tensions, 92 per cent of respondents believe there is currently a geopolitical risk premium of less than $5 per barrel attached to oil prices
The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 6 fils per litre in February
A bearish International Energy Agency report last week revised the 2024 oil demand growth forecast downward as the world shifts to cleaner energy
Geopolitical risks including a feared broadening of the Middle East conflict pushed oil prices up by about 6 per cent last week
The eruption of the Israel-Palestine crisis threatens to derail US efforts to broker a rapprochement between regional powers
Saudi Arabia, Russia will continue with their respective production cuts in a bid to “balance the global oil market”
The largest Arab economy expects real gross domestic product to grow by 0.03 per cent this year
High-interest rates and a strong dollar have hit demand in the US, Europe and China
Crude is heading for the first back-to-back quarterly loss since 2019 after a volatile year
The group agreed on October 5 to reduce its collective crude-output target by 2 million barrels
The UAE is the third largest producer in OPEC
The Finance Ministry expects the economy to grow 5.6 per cent in 2022, in line with IMF predictions
Energy supplies are struggling to keep up with a robust economic recovery
The kingdom’s economy expanded 6.8 per cent in the fourth quarter of 2021
Euro-denominated outstanding debt is currently around 2 per cent of the kingdom’s overall portfolio
While oil has soared about 45 per cent this year, it slumped more than 10 per cent on November 26, the day after Thanksgiving
Saudi Arabia sends more than 60 per cent of its crude exports to Asia
The world’s biggest crude producer’s third-quarter profit climbed to $30.4bn
Qatar decided to leave the cartel in late 2018
The recovery in oil prices presents an opportunity for Gulf economies to accelerate the recovery from the pandemic and strengthen diversification
The attack on the kingdom’s Ras Tanura port on Sunday caused a brief spike in oil prices
To generate liquidity, the government began last year swapping its best assets for cash with the $600bn Future Generations Fund
No final decision on the timing has been made
Bahrain’s public finances have been under strain from the twin shock of the pandemic and lower oil prices
Markets have been volatile during the final weeks of the campaign as investors fretted over the potential for a contested outcome
Income still increased for the first time in five quarters as oil prices steadied
Petrol prices will stay the same for the fifth consecutive month
The stockpile climbed by about SAR3bn ($800m) to reach $445bn
Most of the affected employees are based at Binladin’s headquarters in Jeddah and work in its construction unit
While oil has rebounded rapidly since April as OPEC+ production cuts kicked in and US output fell, the rally fizzled last week