The US Federal Reserve raised interest rates by a quarter percentage point
Bahrain produces about 200,000 barrels a day
Saudi Aramco has discovered the five fields that can produce over 100 million cubic feet per day of natural gas in total
Gas is a cleaner fuel than crude oil
Supply chain disruptions, government stimulus and adverse weather have all contributed to market tightness last year
Bullion’s appeal as a store of value is being burnished by risk aversion in markets and a surge in inflation worldwide
Crude surged to the highest since 2014 last week
Oil has rallied over the past seven weeks to the highest level since 2014
Oil futures have soared to the highest level in seven years in the opening weeks of 2022
Oil has rallied on improving demand and supply outages, putting $100 a barrel within reach
Oil prices soared to a seven-year high above $90 a barrel last month, stirring expectations of a return to triple-digits
Oil has rallied in the opening weeks of 2022 on the continued recovery in energy consumption
Oil has rallied more than 10 per cent so far this year
The growth in the oil sector’s gross domestic product is set to be at 5 per cent this year
The contract was awarded by ADNOC Offshore to National Petroleum Construction Company following a tender process
The 23-nation alliance is likely to proceed with another modest monthly hike of 400,000 barrels a day as it restores production halted during the pandemic
Oil’s drop this week has eaten into a partial recovery from a bear market at the end of November
The discoveries of up to 1 billion barrels of oil equivalent have been made at an exploration well in Onshore Block 4 concession
While oil has soared about 45 per cent this year, it slumped more than 10 per cent on November 26, the day after Thanksgiving
“We’re heading toward a phase that could be dangerous if there’s not enough spending on energy,” he said
Officials expect the economy to expand 2.9 per cent this year and grow by a further 7.4 per cent in 2022
Oil slid for a sixth straight week due to the spread of Omicron and the prospect of more barrels coming to the market
The group meets on December 2
The 14,000 sqm facility in Jebel Ali is capable of processing around 1,400 tonnes of oily waste
Oil rallied to the highest level since 2014 in October but has faltered over the past month
Gross domestic product expanded by 6.8 per cent compared to the same quarter of 2020
Nationwide US crude inventories increased by 3.29 million barrels last week
Crude has soared this year, with production trailing supply as the global economy recovered from the impact of the pandemic
The kingdom will establish a fund to improve carbon-capture technology and back an initiative to develop clean fuels
The consortium, led by Washington-based EIG Global Energy Partners, may raise at least $4.5bn