#oil

UAE petrol prices for May declared

Super 98 petrol will cost Dhs1.91 per litre, while Special 95 is priced at Dhs1.80 per litre

Saudi banks act in unison to reassure investors on oil and virus

Lenders warned that it’s still too early “to determine the size and extent of the financial impact at this stage”

Saudi Arabia could borrow record $58bn as oil slump bites

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

Saudi set to sell 600,000 barrels a day of oil to US in April

The figure marks the highest volume in a year

Oil touches 18-year low as virus-led demand shock outweighs output cuts

Global demand will drop by more than 9 million barrels a day in 2020, according to the IEA

Oil price war ends with historic OPEC+ deal to cut output

The accord caps a tumultuous month when Brent crude plunged to its lowest in nearly two decades, falling toward $20 a barrel

Saudi Aramco delays oil pricing statement as OPEC+ talks continue

Benchmark Brent has plunged by more than half since the start of the year

Aramco delays oil pricing amid Saudi-Russia row on oil cuts

Benchmark Brent crude has plunged 48 per cent this year

Aramco keeps $75bn dividend promise even with oil’s plunge

The kingdom needs an oil price of $84 to balance this year’s budget

Saudi Arabia’s Aramco to pump 12.3 million bpd in April

It puts Aramco supply above its maximum sustainable capacity, indicating that the kingdom is even tapping its strategic inventories

Bahrain, Manama, Cityscape view of Bahrain World Trade Center and Bahrain Financial Harbor

Inspired by Aramco IPO, Bahrain may sell stake in oil assets

Bahrain, where oil and gas are also central to the economy, wants to balance its budget by 2022

Aramco international listing ‘still on the cards’ – minister

The oil giant raised $29.4bn in the world’s biggest-ever initial public offering, selling shares at 32 riyals each

Saudi Aramco crosses the $2 trillion mark on Thursday

On the second day of trading on Riyadh’s stock exchange, Saudi Aramco briefly soared past the target

Revealed: Top 100 most powerful Arabs 2019

In this year’s collection of powerful and influential individuals we have a heady mix of consolidation and breakthrough

UAE law allowing 100% foreign ownership now in force

The law establishes ‘positive’ and ‘negative’ lists of sectors open to more than 49 per cent foreign investment

Qatar predicts three years of budget deficits as low oil prices bite

Qatar forecast a fiscal deficit of 7.8 per cent of GDP this year, the first deficit in 15 years

Oil output freeze by Saudi, Russia to have 'miniscule' impact on oversupply

Global oil market will return to surplus in early 2017 – IEA

The agency said demand growth in 2017 is likely to be flat at around 1.3 million barrels per day

Solar players not troubled by lower oil prices

Renewables growth could slow this year due to lower oil and gas prices

UAE-Australia trade not hit by low oil prices

Australia is tapping into healthcare and education to boost trade links

Analysts predict $15 rise in oil by end-2016

Median of 17 estimates points to a positive end to the year

Oil volatility to hit regional IT spending

IDC expects growth to slowdown as projects are pushed back

Oman cuts expat bosses as oil austerity hits

Companies in the sultanate are also reportedly cutting bonuses

New Saudi King Seen Holding Line On OPEC Policy

King Salman is expected to broadly continue Abdullah’s policies, analysts say.

Saudi Arabia Plans To Raise Spending In 2015 Budget

The stock market rose in the minutes after the announcement, trading 0.9 per cent higher.

UAE Oil Minister: Concerned About Oil Price Fall “But Not Panicking”

Brent crude fell towards $84 a barrel on Tuesday, after top oil exporter Saudi Arabia cut prices to the United States.

Oil Heads For 4-year Low On Saudi Output Signal

Kuwait’s oil minister said on Sunday OPEC was unlikely to cut production to support prices.

Top 10 Countries With The World’s Biggest Oil Reserves

South American nation Venezuela tops the list, followed closely by Saudi Arabia.

FAL Oil Recruits Restructuring Officer For Debt Talks

The UAE-based oil trader looks to hire a CRO as its forced to cut operations in the country by 60 per cent.

Saudi Cuts July Oil Output To 9.8m bpd- Source

The Kingdom reportedly reduced oil output by 300,000 barrels per day from June.

OPEC Oil Output Drops In July On Iran

Supply from OPEC members fell by 450,000 barrels per day (bpd) in July to 31.2 million bpd, a survey has found.