Monday , December 18 2017

Tag Archives: oil prices

Oil prices ‘retreat’ from 2016 highs during week – Global growth concerns return to the fore

LONDON, June 11, (AFP): A combination of tighter supplies and a downbeat dollar sent oil prices surging to fresh 2016 high points this week, before they dropped on worries over the global economic outlook. Crude futures rallied for most of the week, resulting in world benchmark oil contract Brent North …

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Oil prices hardening, could rise to $60 before year-end – Shale oil: The balancing factor

The fact that oil prices are hovering around $50 per barrel because of reduced production rate is causing the price per barrel to harden. The sudden reduction in the conventional oil production by more than 3 million barrels is mainly due to the fire in Canada and the internal dispute …

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Markets react positively towards higher oil prices

Kuwait Finance and Investment Company (KFIC) clarified in its financial report for April; that the global equities rebounded during the month as the MSCI World Index increased by +1.4% as global markets reacted positively towards higher oil prices. In the US, S&P 500 closed flat +0.3% as the US central …

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Is Saudi peg on the verge of breaking? – Falling oil prices and strengthening dollar bite

In January this year, the Saudi Arabian Monetary Authority (SAMA) issued a statement saying that the 1986 mandate which pegged the country’s riyal to the dollar was not under threat. Roughly a week later, SAMA restricted banks operating within its territory from selling forward contracts that are betting against the …

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IEA braces for another year of cheap oil – US shale production squeezed

PARIS, Feb 22, (AFP): Oil prices will remain low at least until next year, the International Energy Agency (IEA) warned Monday, saying any 2017 recovery will be slow as massive oil stocks feed into the market. “We must say that today’s oil market conditions do not suggest that prices can …

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Oil prices recover sharply after a ‘turbulent’ week – UAE offers talks on output cuts: report

NEW YORK, Feb 13, (AFP): Oil prices soared Friday, with US crude rebounding from a 2003 low, on reports that OPEC was willing to organize output cuts that could ease the global oversupply. US benchmark West Texas Intermediate for March delivery shot up $3.23 (12.3 percent) to $29.44 a barrel …

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AMIR MEETS SHIITE MPs AS ASSEMBLY BOYCOTT ENDS – MP warns of economic disaster if oil falls below $20

KUWAIT CITY, Jan 19: His Highness the Amir, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah yesterday met seven Shiite lawmakers following the end of their boycott of the National Assembly sessions, reports Al-Rai daily. Parliamentary sources said the meeting lasted one hour during which recent developments were discussed. The parliamentarians also paid …

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Oil prices could hit record lows in 2016: BP chief

LONDON, Jan 2, (AFP): Struggling oil producers could suffer even more pain in 2016 with further plunges in already record-low prices, BP Chief Executive Bob Dudley warned Saturday. “A low point could be in the first quarter,” Dudley told BBC radio. Oil prices fell by 34 percent in 2015, battered …

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Crude oil prices to remain low for long time to come – OPEC not responsible for weak prices

Regardless of the outcome of the OPEC meeting, the oil prices will remain low for a long time to come. However, there is no consensus concerning what cheap oil is and how it can be measured. Is it the lowest cost for producing one barrel of conventional oil, which is …

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