#oil

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 edges lower as market tightness eases, pipeline restarts

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

Oil edges higher after three-day slide as volatility continues

The US Federal Reserve raised interest rates by a quarter percentage point

Bahrain to hire advisers for privatisation of state oil firms

Bahrain produces about 200,000 barrels a day

Saudi oil discovery

Saudi announces discovery of natural gas fields across four regions

Saudi Aramco has discovered the five fields that can produce over 100 million cubic feet per day of natural gas in total 

Aramco closes $15.5bn BlackRock-led gas pipeline deal

Gas is a cleaner fuel than crude oil

Copper

Commodity forecast for 2022: How gold, oil and industrial metals are expected to fare this year

Supply chain disruptions, government stimulus and adverse weather have all contributed to market tightness last year

Gold holds biggest gain since October as investors seek haven

Bullion’s appeal as a store of value is being burnished by risk aversion in markets and a surge in inflation worldwide

Oil extends eight-week rally on intensifying Ukraine tensions

Crude surged to the highest since 2014 last week

Oil edges higher after drop in stockpiles

Oil has rallied over the past seven weeks to the highest level since 2014

Middle Eastern oil is flavour of the month as benchmarks diverge

Oil futures have soared to the highest level in seven years in the opening weeks of 2022

Oil’s red-hot rally takes a breather after seven weekly gains

Oil has rallied on improving demand and supply outages, putting $100 a barrel within reach