The region’s largest sovereign wealth funds have been involved in at least $28.6bn worth of acquisitions outside the Middle East and Africa this year
West Texas Intermediate futures edged lower toward $96 a barrel after rising 2.1 per cent on Monday
Crude has slumped since mid-June as concerns about a potential recession ripped through commodity markets
West Texas Intermediate tumbled below $91 a barrel on Thursday
Demand for motor fuel plunged last week to the lowest seasonal level since 1996
West Texas Intermediate futures fell for a third session to its lowest level in three months
Crude has tumbled since early June on escalating fears of a slowdown as central banks raise rates to combat rampant inflation
West Texas Intermediate fell below $98 a barrel and has shed about 10 per cent so far this week
The company’s investments during the contract extension period is expected to reach another $7-8bn
Oil has started the third quarter in strong form after dropping in June
Oil fell about 8 per cent in June as investors fretted over a potential global slowdown
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