oil market

  • Saudi Aramco’s Profit Declines 73% in Q2

    Saudi Aramco’s Profit Declines 73% in Q2

    Sunday, 9th August 2020

    The major Saudi oil company, Aramco reported that its profit declined by 73% to 24.6 billion riyals in the second quarter of 2020 compared to 92.6 billion during the same period of the previous year  , because of the drop of energy demand and prices given from coronavirus outbreak.

  • Six Arab Countries Reassert Compliance to OPEC+ Deal

    Six Arab Countries Reassert Compliance to OPEC+ Deal

    Sunday, 9th August 2020

    The oil Ministers of Saudi Arabia, UAE, Kuwait, Oman, Iraq, and Bahrain reconfirmed their full support for OPEC+ agreement of cutting oil production in order to further speed up rebalance of oil markets.

  • Brooge Energy Delays Issuance of Dividends

    Brooge Energy Delays Issuance of Dividends

    Tuesday, 28th April 2020

    Brooge Energy Limited, a midstream oil storage and service provider in the UAE, has announced delay in issuance of dividends due to the market uncertainty.

  • Algeria Unaffected by Fall in Oil Prices 

    Algeria Unaffected by Fall in Oil Prices 

    Sunday, 26th April 2020

    Algerian Minister of Energy, Mohamed Arkab, said that Algeria has the means and resources necessary to overcome the world oil crisis and that the recent fall in oil prices has not impacted Sonatrach’s activity.

  • Libya’s Disruptions Not to Affect Global Oil Market

    Libya’s Disruptions Not to Affect Global Oil Market

    Thursday, 23rd January 2020

    Despite having some disruptions in Libya’s oil market, the global market will not be affected.

  • OPEC Forecasts Lower Demand for Crude Oil

    OPEC Forecasts Lower Demand for Crude Oil

    Monday, 20th January 2020

    The Organization of Petroleum Exporting Countries (OPEC) forecasts a lower demand for crude oil despite the increase in global demand after a US-China trade deal.

  • Oil Market to Balance by End-2019

    Oil Market to Balance by End-2019

    Tuesday, 28th May 2019

    The Kuwaiti Oil Minister expects the market to achieve balance by the end of 2019, yet OPEC will continue to work on maintaining stability.

  • Current Oil Prices Are Fair: Kuwait Deputy Oil Minister

    Current Oil Prices Are Fair: Kuwait Deputy Oil Minister

    Tuesday, 30th April 2019

    The oil market is balanced, and current oil prices are fair, according to Talal Al-Sabah, Kuwait’s Acting Deputy Oil Minister.

  • Iraqi Oil Minister Visits Saudi Arabia

    Iraqi Oil Minister Visits Saudi Arabia

    Wednesday, 9th August 2017
    Iraqi Oil Minister, Jabar El Luaibi, visited Saudi Arabia on August 8th to discuss the oil market and OPEC's efforts to stabilize prices.
  • OPEC, Russia Shielding Asia from Supply Cuts

    OPEC, Russia Shielding Asia from Supply Cuts

    Thursday, 2nd February 2017
    OPEC and Russia are shielding Asia from supply cuts agreed in a landmark deal in 2016 as they fight to protect their share of the world's biggest and fastest growing oil market.