Thursday , October 19 2017

Tag Archives: Oil price

Oil price to stay at $50-55: Kuwait – Strategy on track

KUWAIT CITY, Sept 6, (AFP): Kuwaiti Oil Minister Essam al-Marzouk has said he expects oil prices to stay between $50 and $55 a barrel and that the market will rebalance by the end of the year. Marzouk, who heads an oil producers’ committee that monitors compliance to output cuts, told …

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Stable crude oil price is now harming OPEC – Shale taking advantage of situation

The dip in oil prices to below $49 per barrel last Friday should not go unnoticed. Some real challenging questions were raised concerning the reason behind this sudden dip; whether the increase in shale oil production is the main factor along with increase in the number of oil rigs in …

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Kuwait ‘well positioned’ to ease lower oil impact – Continued reform policies key: IMF

WASHINGTON, Jan 17, (KUNA): Kuwait is “well positioned” to alleviate lower oil prices impact on the economy, the IMF said on Tuesday, as large financial buffers and low debt allow implementation of needed gradual fiscal consolidation. “The fiscal and external positions have deteriorated significantly and nonhydrocarbon growth has moderated  from …

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Oil prices to reach $60 pb by end 2016, says Al-Ofuq chief – ‘OPEC members need to commit themselves to the deal’

KUWAIT CITY, Dec 4, (KUNA): Oil prices have been on the rise by 15 percent since the Organization of Petroleum Exporting Countries (OPEC) decided on Wednesday to cut production as of January 1, an analyst has said. In an interview with KUNA on Sunday, head of Al-Ofuq consultancy center Dr …

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Global stocks slip on US poll worry; crude oil prices weak – Dollar tumbles against safe haven Swiss franc

NEW YORK, Nov 4, (Agencies): Global equity markets slipped amid investor concerns about the outcome of the US presidential election on Nov 8, while oil prices remained weak on concerns about surging inventories and whether OPEC members will adhere to planned production limits. Weaker oil prices raised concerns about low …

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Kuwait breakeven oil price lowest in GCC – Gulf GDP growth for 2016 to be lower by 10 bps; 2017 forecasts left unchanged

KUWAIT CITY, Oct 23: Oil production estimates for the GCC was raised yet again by the IMF for 2016, while keeping estimates for 2017 unchanged. Production, is now expected to grow to 18.04 mb/d from the earlier estimate of 18.01 mb/d for 2016. Key driver for the increase in forecast …

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Crude producers finally agree common ground – Prices at highest level this year

Oil price is hitting its highest level so far this year with Brent at $52 per barrel. The barrel is closing at a much better level mainly because of the recent understanding that was reached between OPEC and its biggest non-member producer, Russia. This will definitely lead to a smooth …

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OPEC oil price up to USD 48.58 per barrel

VIENNA, Oct 10 (KUNA) — The OPEC daily basket price stood at USD 48.58 a barrel Friday, compared with USD 47.84 the previous day, the organization said on Monday. The monthly average of the OPEC basket price for September hit USD 42.89 pb for August, it added. The new OPEC …

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Oil price bounce fails to cheer GCC markets – Saudi TASI sheds 3.5 pct

KUWAIT CITY, Sept 6: Kuwait Financial Centre “Markaz” recently released its Monthly Market Research report. In this report, Markaz examines and analyzes the performance of equity markets in the MENA region as well as the global equity markets for the month of August. GCC bourses took a hit in the …

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Will crude oil price ‘reach’ $60/barrel before year-end? – Import on the rise as demand increases

The surprising news is that oil prices have doubled since the start of this year. It is currently hovering around $55 level and is anticipated to hit the $60 level prior to the end of this year. This news came as a surprise for everyone particularly the oil-producing countries. They …

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