Investors will look to economic data and monetary policy for potential clues on the outlook for oil demand
While Asia’s crude demand is robust, the same can’t be said for its refinery margins, which have been squeezed by higher oil prices
This year, international oil prices have been strong, with Brent holding above $80 a barrel
In a sign of how bullish investors were becoming most buying came from the creation of new long positions
The nonbinding resolution, proposed by the US and co-sponsored by China and over 120 other nations, advocates the strengthening of privacy policies
The Gulf state plans an 85 per cent expansion in LNG output from its North Field’s current 77 million metric tons per year to 142 mtpa by 2030
India, Argentina, China, Russia, Malaysia and South Africa registered the largest increases, signalling potential growing challenges in debt repayments
Recently, four tankers carrying Russian Urals crude passed through the Bab-el-Mandab strait with another three heading south through the Red Sea
Two GCC nations, the United Arab Emirates and Saudi Arabia, are now formally part of the BRICS bloc
The Russian President is due to hold talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan and Saudi Arabia’s Crown Prince Mohammed bin Salman
Saudi Arabia, Russia will continue with their respective production cuts in a bid to “balance the global oil market”
Oil prices rose above $90 a barrel for the first time in 2023 on the back of the announcements made by Saudi Arabia and Russia
The world’s third largest oil importer has increased its purchase of oil from Saudi Arabia
The BRICS grouping has announced an expansion in its ranks with six new members, including UAE, Saudi Arabia, Ethiopia and Egypt
Forecasters predict OPEC+ to keep output steady due to demand in China, and the current curbs, should rapidly deplete world inventories
The airline will operate three flights weekly, starting from October 1, 2023
West Texas Intermediate fell toward $77 a barrel after dropping the most since the banking crisis in March last week
The carrier has grown its network to 114 destinations
Air Arabia operates the Airbus A320 and A321 neo-LR aircraft
The two leaders reviewed a number of regional and international issues, and developments of common concern
As recently as 2017, Asian countries barely featured among the world’s 10 most-accepted passports
All major groups in the S&P 500 retreated with losses in megacaps like Tesla and Apple weighing heavily on trading
Global benchmark Brent topped $122 a barrel, hitting a two-month high
Oil has rallied by more than 50 per cent this year in extremely volatile trading
West Texas Intermediate futures fell below $103 a barrel in early Asian trading
US crude output will grow at a slower pace than previously expected
West Texas Intermediate futures slid 5 per cent to trade near $102 a barrel, trimming a monthly advance
Brent futures briefly surged to a 13-year peak near $139 a barrel earlier this month
Bullion has gained 12 per cent this year
The elevated prices are triggering concerns about growing food insecurity