Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Search results

1-10 results from 215 for query «opec»

May 25, 2018 11:50 AM OPEC, Russia mull oil output increase

Mubasher: Saudi Arabia and Russia are considering the increase of crude output from Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC exporters by nearly 1 million barrel per day (bpd), according to reports on Friday. The energy ministers of Saudi Arabia and Russia as well as their counterpart from the United Arab Emirates (UAE) will lead the preliminary

May 23, 2018 4:04 PM Oil prices down after rise in US oil stocks

Mubasher: Oil prices remained in a downwards trend on Wednesday after data showed a surge in crude oil inventories in the United States. The US Energy Information Agency (EIA) said in its weekly report that crude oil stockpiles increased by 5.8 million barrels last week, against expectations of a 1.5 million-barrel decline. Crude prices are also affected

May 15, 2018 4:17 PM Oil market may need Saudi, Russian to prevent $100/pb -Analyst

Mubasher: The global oil market may need Saudi Arabia and Russia to step in to prevent a possible uptick in prices towards $100 per barrel (pb) after the US sanctions are re-imposed on Iran, an analyst has said on Tuesday. The loss of Iranian oil may mean that producers like Saudi Arabia from the Organization of Petroleum Exporting Countries (OPEC) 1

May 15, 2018 8:01 AM Oil stabilises Tuesday on OPEC cuts, looming Iran sanctions

Mubasher: Oil prices remained stable on Tuesday as extended output cut deal supported by the Organization of the Petroleum Exporting Countries (OPEC) and imminent US sanctions against Iran tightened the market. Brent crudes stood at $78.58 per barrel (pb) earlier on Tuesday, $0.14 higher than their last close when their prices moved close to a three-and-a-half 2

May 14, 2018 9:11 AM Rosneft posts seven-fold jump in Q1 profit

Mubasher: State-owned oil major Rosneft on Monday reported a seven-fold leap in its net income for the three-month period ended March 2018, while revenue grew 22%, driven by higher crude prices. The Russian oil producer generated a net income of RUB 81 billion ($1.31 billion) during Q1-18, compared to RUB 11 billion in Q1-17, but lower than RUB 100 billion 2

May 9, 2018 4:15 PM Iran’s output slightly impacted, on US sanctions

Mubasher: Barclays lowered its expectations for Iran’s oil output in 2019, in a report released on Wednesday, after the US announced its intention to withdraw from the 2015 nuclear accord. The UK-based bank predicted that oil production in 2018 was unlikely to be affected. The British lender reduced its estimates for the Persian Gulf country’s oil production 2

May 9, 2018 8:12 AM Oil surges Wednesday after US withdraws from Iran’s nuclear deal

Mubasher: Oil prices soared more than 2% on Wednesday on the back of the United States’ withdrawal from the 2015 nuclear accord with Iran, in addition to its reinstating of economic sanctions on the Persian Gulf country. Brent crude futures at one point hit $76.75 per barrel (pb), the highest price since November 2014, while US Nymex crude jumped to $70.49 pb, an all-time 1

May 3, 2018 8:33 PM GCC stock markets winning streak continues

MANAMA: The GCC stock market winning streak continues with April 2018 marking another positive month. The S&P GCC Index was up by nearly 3% for the month and is now up by nearly 10% for the year, making it as one of the best performing regions in the world, according to Marmore Research. Both the MSCI world index and MSCI Emerging market index are flat for the year. The GCC performance 7

May 3, 2018 8:11 AM Oil drops Thursday on surging US crude stockpiles

Mubasher: Oil prices tumbled earlier on Thursday, driven by an increase in the US crude oil inventories and production in counter to the efforts led by the Organization of the Petroleum Exporting Countries (OPEC) to trim oil production and support oil prices. The US commercial oil inventories hiked by 6.2 million barrels to 436.7 million barrels in the week ended 6

April 27, 2018 8:12 AM Oil edges down, ahead of rig count data

Mubasher: Oil prices declined on Friday but maintained trading at the high level reached on Thursday. The prices of oil fell ahead of Baker Hughes data pertaining US drilling rig count due later in the day. Oil extended trading higher during Thursday, driven by growing concerns about potential geopolitical escalation in the Middle East and potential 21