Oil is still up around 45 per cent this year as the global economic recovery coincided with upended trade flows
Oil is still up more than 50 per cent this year after rebounding demand combined with upended trade flows
US inflation accelerated to a fresh 40-year high last month, raising the likelihood of more aggressive interest-rate hikes from the Federal Reserve
Consumption in top importer China is expected to rise as it lifts strict Covid restrictions
Saudi Arabia sends more than 60 per cent of its crude exports to Asia, with China, Japan, South Korea and India being the biggest buyers
Global benchmark Brent topped $122 a barrel, hitting a two-month high
Saudi Arabia has seen revenues soar on the back of $100 oil and rising production
West Texas Intermediate futures climbed toward $111 a barrel after rising 0.5 per cent on Wednesday
Saudi Arabia’s posted a $15.3bn budget surplus in the first quarter
Oil markets remain in backwardation, a bullish pattern that’s marked by near-term prices trading above longer-dated ones
ADNOC said that the new finds totalled 650 million barrels of oil
Investors have shunned equities and many commodities after Federal Reserve officials reaffirmed much tighter monetary policy lies ahead to cool an overheating economy and tame inflation
Oil has rallied by more than 50 per cent this year in extremely volatile trading
The boost was mainly driven by oil revenue, which rose 58 per cent compared to last year
Oil is up around 40 per cent this year following a strong economic rebound from the pandemic
West Texas Intermediate futures fell below $103 a barrel in early Asian trading
Saudi Arabia sends more than 60 per cent of its crude exports to Asia
OPEC and its allies rubber-stamped the standard 432,000 barrel-a-day increase for June
The IMF said it expects the bonanza “to improve fiscal and external balances” in a region that includes 13 exporters in total
The country will put $2 into the Future Generations Reserve Fund for each barrel of crude sold at over $80
US crude output will grow at a slower pace than previously expected
More than 60 per cent of Saudi Arabia’s oil shipments go to Asia, with China, Japan, South Korea and India
It is the third consecutive month that fuel prices have increased
West Texas Intermediate futures slid 5 per cent to trade near $102 a barrel, trimming a monthly advance
Brent futures briefly surged to a 13-year peak near $139 a barrel earlier this month
The International Monetary Fund estimates Bahrain needs oil prices of around $107 a barrel to balance its budget
The jump in oil is fanning inflation in economies around the world
OPEC+ is reviving supplies after its deep cuts at the start of the pandemic in 2020
Over 65 percent of the award value could flow back into the UAE economy under ADNOC’s In-Country Value programme
The kingdom’s real GDP grew by 6.7 per cent in the fourth quarter of 2021