Super 98 petrol will cost Dhs1.91 per litre, while Special 95 is priced at Dhs1.80 per litre
Lenders warned that it’s still too early “to determine the size and extent of the financial impact at this stage”
The government is looking at additional spending cuts and may issue as much as an additional SAR100bn of debt on top of SAR120bn riyals already announced
The figure marks the highest volume in a year
Global demand will drop by more than 9 million barrels a day in 2020, according to the IEA
The accord caps a tumultuous month when Brent crude plunged to its lowest in nearly two decades, falling toward $20 a barrel
Benchmark Brent has plunged by more than half since the start of the year
Benchmark Brent crude has plunged 48 per cent this year
The kingdom needs an oil price of $84 to balance this year’s budget
It puts Aramco supply above its maximum sustainable capacity, indicating that the kingdom is even tapping its strategic inventories
Bahrain, where oil and gas are also central to the economy, wants to balance its budget by 2022
The oil giant raised $29.4bn in the world’s biggest-ever initial public offering, selling shares at 32 riyals each
On the second day of trading on Riyadh’s stock exchange, Saudi Aramco briefly soared past the target
In this year’s collection of powerful and influential individuals we have a heady mix of consolidation and breakthrough
The law establishes ‘positive’ and ‘negative’ lists of sectors open to more than 49 per cent foreign investment
Qatar forecast a fiscal deficit of 7.8 per cent of GDP this year, the first deficit in 15 years
The agency said demand growth in 2017 is likely to be flat at around 1.3 million barrels per day
Renewables growth could slow this year due to lower oil and gas prices
Australia is tapping into healthcare and education to boost trade links
Median of 17 estimates points to a positive end to the year
IDC expects growth to slowdown as projects are pushed back
Companies in the sultanate are also reportedly cutting bonuses
King Salman is expected to broadly continue Abdullah’s policies, analysts say.
The stock market rose in the minutes after the announcement, trading 0.9 per cent higher.
Brent crude fell towards $84 a barrel on Tuesday, after top oil exporter Saudi Arabia cut prices to the United States.
Kuwait’s oil minister said on Sunday OPEC was unlikely to cut production to support prices.
South American nation Venezuela tops the list, followed closely by Saudi Arabia.
The UAE-based oil trader looks to hire a CRO as its forced to cut operations in the country by 60 per cent.
The Kingdom reportedly reduced oil output by 300,000 barrels per day from June.
Supply from OPEC members fell by 450,000 barrels per day (bpd) in July to 31.2 million bpd, a survey has found.
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