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Wednesday , November 21 2018

Tag Archives: Oil price

Oil price hike to record budget surplus in fiscal 2018/’19

State to increase production of non-associated gas up to 500 mln cubic feet per day KUWAIT CITY, June 20: Governmental and private investments support the average growth of non-hydrocarbons – about 3.5 to 4 percent from 2018 to 2021, reports Al-Shahed daily. Concurrent with the increasing prices of oil compared …

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Oil price rise boosts Kuwait’s fiscal position; credit growth remains ‘modest’ during March

 Inflation up fractionally to 0.7% y/y in April but continues to be subdued by soft food and housing figures By National Bank of Kuwait KUWAIT CITY, June 2: News on the Kuwaiti economy over the past month has been mixed. The strong rally in oil prices should lift confidence and …

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Oil price above $71: Is it good news for producers? – Output cuts strategy working so well

Of course, oil price above $71 level is good news for all oil producing countries, as they are enjoying higher income, closing the gaps of borrowing money, and witnessing an increase in the value of their currency particularly the Russian rubles against other foreign currencies. Most importantly however is for …

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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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