#oil

Oil

Oil set for first monthly decline this year before OPEC+ meeting

Oil is still up around 45 per cent this year as the global economic recovery coincided with upended trade flows

Oil

Oil set for weekly loss as traders weigh monetary tightening

Oil is still up more than 50 per cent this year after rebounding demand combined with upended trade flows

US inflation

Oil extends losses as investors weigh US inflation, China demand

US inflation accelerated to a fresh 40-year high last month, raising the likelihood of more aggressive interest-rate hikes from the Federal Reserve

Oil set for seventh weekly gain as traders weigh China’s return

Consumption in top importer China is expected to rise as it lifts strict Covid restrictions

Saudi Arabia

Saudi raises oil prices amid Asia rebound

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

Oil powers to sixth monthly gain as EU set to curb Russian flows

Global benchmark Brent topped $122 a barrel, hitting a two-month high

Oil extends gain as US stockpiles tighten before driving season

West Texas Intermediate futures climbed toward $111 a barrel after rising 0.5 per cent on Wednesday

Saudi Arabia

Saudi Arabia to use oil windfall to boost private sector

Saudi Arabia’s posted a $15.3bn budget surplus in the first quarter

Markets

Oil drops as traders weigh tight gasoline markets, weak growth

Oil markets remain in backwardation, a bullish pattern that’s marked by near-term prices trading above longer-dated ones

uae adnoc oil dicovery

UAE’s ADNOC announces three onshore oil discoveries

ADNOC said that the new finds totalled 650 million barrels of oil

Oil pump

Oil rebounds after two-day drop as traders weigh products, China

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

Oil steadies after four-day surge as US product markets run hot

Oil has rallied by more than 50 per cent this year in extremely volatile trading

Landmarks Of The City Of Riyadh, Kingdom Of Saudi Arabia

Saudi Arabia posts $15bn surplus on soaring oil income

The boost was mainly driven by oil revenue, which rose 58 per cent compared to last year

Oil

Oil holds jump as US fuel stockpiles slide before driving season

Oil is up around 40 per cent this year following a strong economic rebound from the pandemic

Oil extends decline as Europe softens some Russian sanctions

West Texas Intermediate futures fell below $103 a barrel in early Asian trading

Saudi Arabia

Saudi cuts oil prices from record highs amid China lockdowns

Saudi Arabia sends more than 60 per cent of its crude exports to Asia

OPEC

OPEC+ sticks to small supply hike as EU eyes Russia oil ban

OPEC and its allies rubber-stamped the standard 432,000 barrel-a-day increase for June

Oil exporters bagging $818bn windfall are cautioned by IMF

The IMF said it expects the bonanza “to improve fiscal and external balances” in a region that includes 13 exporters in total

Bahrain seizes on oil windfall to rebuild funds hit by pandemic

The country will put $2 into the Future Generations Reserve Fund for each barrel of crude sold at over $80

Oil extends advance above $100 as Ukraine crisis continues

US crude output will grow at a slower pace than previously expected

Saudi Arabia hikes oil prices further into record territory

More than 60 per cent of Saudi Arabia’s oil shipments go to Asia, with China, Japan, South Korea and India

UAE raises fuel prices for April 2022

It is the third consecutive month that fuel prices have increased

Oil retreats as US weighs reserves release to combat inflation

West Texas Intermediate futures slid 5 per cent to trade near $102 a barrel, trimming a monthly advance

OPEC+ still sees no need to change plan despite Ukraine crisis

Brent futures briefly surged to a 13-year peak near $139 a barrel earlier this month

Bahrain sees higher oil helping it beat budget balance target

The International Monetary Fund estimates Bahrain needs oil prices of around $107 a barrel to balance its budget

Oil advances as EU debates possible ban on Russian crude imports

The jump in oil is fanning inflation in economies around the world

Japan asks UAE to boost oil output

OPEC+ is reviving supplies after its deep cuts at the start of the pandemic in 2020

ADNOC

UAE’s ADNOC awards agreements worth Dhs2.4bn to support upstream growth

Over 65 percent of the award value could flow back into the UAE economy under ADNOC’s In-Country Value programme

Saudi Arabia’s real GDP grows 3.2% in 2021

The kingdom’s real GDP grew by 6.7 per cent in the fourth quarter of 2021